AI BriefingPoolside AI Signs $6 Billion Non-Exclusive License Agreement with Nvidia
Key point
Poolside AI has signed a $6 billion license agreement with Nvidia and received a $1 billion investment.
Details
AI model development startup Poolside AI has signed a non-exclusive license agreement worth $6 billion with Nvidia. Nvidia is investing $1 billion in Poolside, valuing the company at $12 billion pre-money.
A key aspect of this deal is the offer for 109 Poolside employees to move to Nvidia. This resembles recent 'acquihire' cases where big tech companies have acquired AI startups or recruited their core talent.
However, unlike previous cases, Poolside's founders have decided to stay with the startup. The founders emphasized, "This is not an acquisition or an acquihire," and stated that the company will maintain its independence.
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