Nvidia Pays $6 Billion for Poolside AI Models, Hiring 100-Plus Staff
Updated
Updated · Yahoo Finance · Aug 21
Nvidia Pays $6 Billion for Poolside AI Models, Hiring 100-Plus Staff
3 articles · Updated · Yahoo Finance · Aug 21
Summary
$6 billion will buy Nvidia a license to Poolside’s AI models, while the chipmaker plans to extend job offers to more than 100 of the startup’s employees, people familiar said.
Another $1 billion from Nvidia values Poolside at $12 billion excluding the new funds; the startup will keep operating independently and existing backers will receive a payout.
Poolside’s models focus on automating computer coding, especially for government and defense software, giving Nvidia another asset beyond its chips, software and in-house AI models.
Nvidia has been pouring cash into AI to broaden adoption and protect future demand for its processors and systems, while similar license-and-hire deals have drawn criticism as a way around merger review.