As reported by Bloomberg, citing sources, Nvidia, the semiconductor heavyweight, intends to invest a minimum of $500 million and potentially as much as $1 billion in Poolside, a company focused on creating AI models for software development. Bloomberg also notes that the investment would be a component of a $2 billion funding round Poolside is undertaking, valuing the company at $12 billion.
According to Bloomberg’s reporting, Nvidia’s investment may reach the $1 billion mark, contingent on the successful conclusion of the remaining funding round.
This potential investment would not represent Nvidia’s initial backing of Poolside. Nvidia had previously invested in Poolside’s $500 million Series B round in October of the prior year.
Nvidia, which is already an active investor in the realm of AI startups, has been expanding its investment strategy to encompass a wider array of industries. To illustrate, in October, Nvidia expressed interest in investing $500 million in Wayve, a U.K.-based autonomous driving firm. Furthermore, the previous month saw the company acquire a $5 billion ownership stake in Intel, signaling intentions for future partnership on chip technology.
TechCrunch has contacted Poolside seeking further details.
