Nvidia is in talks to buy Reflection AI or deepen its stake, the FT reports, five days after Beam

Nvidia is in early talks to buy Reflection AI outright or to invest more in it, the Financial Times reported on Saturday, October 10, citing people familiar with the matter. No deal has been announced, and the terms had not been settled.

WHAT IS ON THE TABLE

Per the FT, as relayed by Bloomberg News and SiliconANGLE:

- An outright purchase. - A bigger stake, possibly bundled with more chips and computing power. - An acquihire: Nvidia hires Reflection's staff and licenses its technology without taking control. The FT says that structure would likely avoid a long regulatory review.

The FT's sources said an agreement could come within weeks, and that the talks could still fall apart.

WHAT IS SOURCED

- Nvidia is already a backer, with $800 million invested in total, per the FT. - Reflection was last valued at $25 billion in a March funding round, per the FT. - Reflection was founded in 2024 by former Google DeepMind researchers Misha Laskin and Ioannis Antonoglou. - Neither company has commented publicly on the talks.

WHY IT MATTERS FOR BEAM

The report lands five days after Reflection announced Beam, its first open-weight model: a 501B Mixture-of-Experts with 23B active parameters, whose reinforcement learning run Reflection says used 10,500 NVIDIA GB300 GPUs. Reflection promised the weights under Apache 2.0 by the end of October. As of October 12 there are no Beam weights on Hugging Face and no Beam id in the catalogs we sweep, so that promise is still open. Whether a deal would change the schedule or the license is not known.

WHAT WE DO NOT KNOW

The price, which structure Nvidia prefers, and whether a deal happens at all. We have not read the FT article itself; the details above come from Bloomberg News's and SiliconANGLE's accounts of it.