Skip to content
The chip giant will buy the non-exclusive right to use the San Francisco-based startup’s Model Factory platform, and will offer positions to 109 of its employees, per an investor note obtained by Newcomer. Nvidia is also investing US$1 billion in Poolside at a US$12-billion valuation before the new capital. Poolside did not respond to a request for comment. (Newcomer)
Talking point: Montreal-based Inovia Capital could be in line for a payout from the deal. It first backed Poolside during its reported US$126-million seed round in June 2023, then again at the startup’s US$500 million Series B the following October. Per its note, the firm plans to distribute some of its new Nvidia money to investors by the end of next year, at a rate of US$76.20 per share. Poolside uses its in-house Factory system to develop its own foundation models to power coding agents. It’s ultimately trying to help achieve human-like artificial general intelligence. Poolside co-CEO Jason Warner started working on the firm while based in Victoria, B.C., where he was investing for a venture firm. Unlike in tech giants’ other licensing-plus-recruitment deals, he and co-founder Eiso Kant are staying at the startup, not leaving for Nvidia.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
AI company Cohere valued at $35.7B as Canada’s government takes a stake
Briefing
Cameco’s CEO says Canada is stabbing it in the back by favouring Candu nuclear reactors
Solink raises US$100M to expand AI-driven surveillance camera platform
Major Projects Office CEO says First Nations have ‘every right’ to be skeptical
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
