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Nvidia-Backed Reflection AI Seeks $2.5 Billion at $25 Billion Valuation

The move signals investor interest in open models tied to regional data centers for so‑called sovereign AI.

Overview

  • Reflection AI, which was reported Thursday to be in talks to raise $2.5 billion, is targeting a $25 billion valuation.
  • Nvidia has invested about $800 million and is steering potential customers to the startup, including foreign governments that want to build their own AI systems.
  • JPMorgan is considering joining the round through its security-focused unit, and existing backer Disruptive is expected to add more capital.
  • The company is pursuing sovereign AI deals, including a pact with South Korea’s Shinsegae to build Korean-language models and a planned data center project that one report estimates at about $6.7 billion.
  • Reflection has raised more than $2 billion yet remains early on revenue, underscoring execution risk as investors bet that demand is shifting toward scarce GPU compute and regional control of AI infrastructure.