NVIDIA Corporation (NVDA.US) and Snowflake (SNOW.US) jointly invest in Reka AI completed a $110 million financing, with a valuation exceeding $1 billion.

According to reports, the California-based startup Reka AI recently completed a $110 million financing round, with investors including NVIDIA Corporation (NVDA.US) and Snowflake (SNOW.US). This round of financing has pushed the valuation of this AI company over $1 billion, more than triple the valuation of the previous round. Founded in 2022 by a team of former researchers from Alphabet Inc. Class C (GOOGL.US) and Meta Platforms (META.US), this tech company focuses on developing large language models (LLMs). PitchBook data shows that in the previous financing round in 2023, the company was valued at approximately $300 million. It is worth noting that there were reports last year that Snowflake was interested in acquiring Reka. Reka CEO Dani Yogatama stated, "After thorough discussions, both parties believe that maintaining independent development is more beneficial," and emphasized continued deep collaboration with Snowflake. NVIDIA Corporation declined to comment on this, and Snowflake did not immediately respond to a request for comment. Vivek Raghunathan, Vice President of Artificial Intelligence Engineering at Snowflake, revealed in an interview that the company will provide Reka AI's models and other solutions to customers. "There are few teams globally with this kind of research and development capabilities," Raghunathan commented. "Top talent is mostly concentrated in OpenAI, Meta, or Anthropic. Reka is one of the few teams that have maintained independence and proven their competitive edge."