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Investing.com -- Nvidia Corp. plans to invest as much as $1 billion in artificial intelligence startup Poolside as part of a funding round that would significantly increase the company’s valuation.
Poolside is currently in discussions to raise $2 billion at a $12 billion valuation, which would quadruple the AI startup’s worth, according to a report from Bloomberg, citing people familiar with the matter.
Nvidia’s investment would begin at $500 million but could reach $1 billion if Poolside meets its fundraising targets.
The AI startup has already secured more than $1 billion in commitments for this latest funding round. This includes approximately $700 million from existing investors.
Magnetar is also in talks to participate in the funding round.
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