Nvidia is reported to be in early talks with Reflection AI over an acquisition, an investment or an acquihire. Nothing is confirmed by either company.
The relationship is already deep. Nvidia led a $2 billion round in Reflection in October 2025 and has invested roughly $800 million to date. Reflection's most recent round valued it at about $25 billion pre-money in April 2026, and the lab holds a SpaceX compute deal worth up to $6.3 billion.
What makes this more than a funding story is what Reflection ships. On 16 October it released Beam, a 501-billion-parameter model under an Apache 2.0 licence - one of the largest genuinely open-weight releases of the year. Nvidia acquiring the lab that publishes open weights at that scale would be an unusual move for a company whose business is selling the hardware those weights run on. It is also consistent with one: open weights that anyone can run drive demand for chips, where a closed frontier model concentrates that demand inside one customer's data centre.