TLDR
- Nvidia-backed startup Reflection AI is seeking a $25 billion valuation in a new funding round
- The company wants to raise $2.5 billion, more than tripling its previous $8 billion valuation
- JPMorgan Chase is in talks to invest through its security-focused investment arm
- Reflection AI builds open-source AI models and coding tools, founded by ex-Google DeepMind researchers
- The startup is targeting sovereign AI partnerships with U.S. allies to counter China’s AI growth
Reflection AI, a startup backed by Nvidia, is in talks to raise $2.5 billion in new funding at a valuation of $25 billion, according to the Wall Street Journal. That would be more than triple its previous valuation of around $8 billion.
📢 𝐉𝐔𝐒𝐓 𝐈𝐍: $NVDA Nvidia-Backed Reflection Seeks $2.5 Billion Funding at $25 Billion Valuation
Reflection, backed by Nvidia, is in talks to raise $2.5 billion at a $25 billion valuation to expand development of open-source AI models. The startup aims to build an ecosystem… pic.twitter.com/TOujgfGg3u
— Hardik Shah (@AIStockSavvy) March 26, 2026
The company was founded in 2024 by former Google DeepMind researchers. It builds AI tools for developers, including coding assistants, and works with Nvidia to create open-source AI models that businesses, governments, and research institutions can use freely.
Nvidia has already invested around $800 million in Reflection AI. The chip company has also been helping Reflection find new customers, including foreign governments looking to build their own AI systems.
JPMorgan Chase is reportedly in talks to join the funding round through its security-focused investment division. Existing investor Disruptive is also expected to participate.
Reflection has raised more than $2 billion in total so far. Despite that, the company is still early in generating revenue.
Sovereign AI Push
One of Reflection’s biggest moves recently was a deal to build Korean-language AI models with South Korea’s Shinsegae Group. That project would run on thousands of Nvidia chips.
The company plans to expand similar deals worldwide. The goal is to become a key platform for what the industry calls “sovereign AI” — AI systems built and controlled by individual countries or U.S. allies.
This strategy is aimed directly at competing with China’s fast-growing AI capabilities. The U.S. government has been pushing to build a domestic AI ecosystem, and Reflection is positioned as part of that effort.
Open AI Models and Nvidia’s Strategy
Reflection is one of several startups partnering closely with Nvidia to build powerful AI models that run on its hardware. These open models can be adapted and used across industries.
Nvidia’s involvement goes beyond just investing. The chip giant is actively introducing Reflection to potential customers and helping it grow its partnerships network.
Wall Street remains bullish on Nvidia. The stock currently holds a Strong Buy consensus on TipRanks, based on 41 buy ratings and one hold over the past three months. The average price target of $273.34 implies around 53% upside from current levels.
JPMorgan Chase’s potential participation adds another layer to the deal, linking two major financial players — a bank and a chipmaker — to one AI startup’s growth plans.
Reflection AI was founded less than two years ago and has already attracted billions in investment and partnerships across multiple countries.
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