Nvidia (NVDA) plans to invest as much as $1B in the artificial intelligence company Poolside as part of a deal that would quadruple the valuation of the AI startup, people familiar with the matter told Bloomberg’s Kate Clark and Yazhou Sun. Poolside is in discussions to raise $2B at a $12B valuation and Nvidia’s investment in the round, which has not been previously reported, would start at $500M with the potential to reach $1B if the startup meets its fundraising targets, according to the report. Poolside’s new valuation would be a sharp jump from the $3B investors said it was worth in a funding round last year, the report noted.
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