Reflection AI's $25B Raise
Reflection AI is in talks to raise about $2.5 billion at a $25 billion valuation—up from roughly $8 billion less than six months ago—and is being positioned as an Nvidia‑backed competitor to DeepSeek. JPMorgan and other major investors are reportedly involved in discussions even as the wider AI sector faces a notable sell‑off. ( )
Reflection AI was founded in 2024 by former Google DeepMind researchers Misha Laskin and Ioannis Antonoglou, who previously worked on projects including Gemini and AlphaGo. (techcrunch.com) The company closed a Series B in October 2025 that brought in roughly $2 billion and was led by Nvidia, with Nvidia’s cash commitment reported at about $800 million. (techcrunch.com) Reflection’s investor roster from that round includes Disruptive, DST, 1789 Capital, B Capital, Lightspeed, GIC, Citi, Sequoia and individual backers such as Eric Schmidt and Eric Yuan. (techcrunch.com) The startup’s team was described as roughly 60 researchers and engineers in late 2025, and the company says it has secured a dedicated compute cluster and an architecture capable of training large Mixture‑of‑Experts models at frontier scale. (techcrunch.com) Reflection signed a memorandum of understanding with South Korea’s Shinsegae Group in mid‑March to explore a 250‑megawatt “sovereign AI factory” intended to serve Korean enterprises and agencies. (prnewswire.com) Reports say major financial institutions, including JPMorgan Chase via its Security and Resiliency Initiative, have been courted to participate in the latest funding discussions; Reuters noted it could not immediately verify the details and that Reflection did not comment. (finance.yahoo.com) Public data aggregators put Reflection’s total capital raised to date at about $2.13 billion across three rounds, reflecting the company’s rapid fundraising trajectory since its March 2025 emergence. (tracxn.com) Nvidia has been described not only as a financial backer but also as providing engineering support and customer introductions, including to government and sovereign‑infrastructure partners. (coincentral.com)
