Nvidia is set to pay AI startup Poolside $6 billion to license software used to build AI models and will extend job offers to 109 Poolside employees, according to accounts cited by multiple outlets.
The arrangements come from a letter Poolside sent to investors, first reported by Newcomer and described by other publications. Bloomberg reports that Nvidia will license Poolside’s AI models and make offers to more than 100 employees, citing people familiar with the situation. The Next Web and PYMNTS specify the software as “Model Factory” and say Poolside’s open-source model “Laguna” was developed using it.
The Next Web also adds that Nvidia is investing an additional $1 billion in what remains of Poolside and values the company at a $12 billion pre-money valuation. Other sources focus on the $6 billion licensing payment and the employee hiring terms, with fewer details on the valuation and remaining investment.
