Nvidia-backed (NVDA.O), opens new tab startup Reflection AI is in talks to raise $2.5 billion at a valuation of $25 billion, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
Get a daily digest of breaking business news straight to your inbox with the Reuters Business newsletter. Sign up here. JPMorgan Chase is considering participating in the funding round through its Security and Resiliency Initiative, the report said. The proposed $25 billion valuation for Reflection reflects its pre-money valuation, before the $2.5 billion investment, according to the WSJ.
The proposed valuation for Reflection marks an increase from the more than $20 billion level the company had reportedly targeted, according to a Financial Times report earlier this month.
