Reflection, an artificial intelligence startup backed by Nvidia, is reportedly in talks to raise $2.5 billion at a $25 billion valuation, according to The Wall Street Journal. If completed, the deal would rank among the largest fundraising rounds in the open-source AI sector.
Focus on automated coding systems
Founded in 2024 by former Google DeepMind researchers Misha Laskin and Ioannis Antonoglou, Reflection is building AI systems designed to automate code writing and maintenance. The company is positioning itself as a U.S.-based alternative to Chinese AI firms such as DeepSeek.
Nvidia has already invested
The report says Nvidia previously invested $800 million in Reflection, valuing the company at $8 billion at that time. A new round at $25 billion would mark a sharp step-up in valuation and underscore continued investor appetite for AI infrastructure and open-source model companies.
JPMorgan and existing investors may join
Current fundraising discussions reportedly involve JPMorgan Chase, which could participate through its Security and Resilience initiative. Existing investor Disruptive has also been mentioned as a potential participant in the new round. While the financing has not been finalized, the proposed size of the raise, the target valuation, and the profile of the parties involved have made Reflection a closely watched name in the AI funding market.
For now, the details remain based on media reporting, and the final amount, valuation, and investor lineup could still change.