Talks are at an early stage. An agreement could be reached in the coming weeks, though the discussions could still fall apart. Options include a full acquisition, an acqui-hire, a larger equity stake, or more chips and compute for Reflection AI. Nvidia has already invested $800 million in the startup. Deal terms are not known, but Reflection was last valued at $25b in a March funding round. Reflection was founded in 2024 by former DeepMind researchers Misha Laskin and Ioannis Antonoglou and develops open-weight models focused on code generation and AI agents. The acqui-hire route would copy Nvidia's Groq deal, in which it would hire staff and license its technology. For founders, this is another sign that big incumbents can absorb a lab through a licensing-and-hiring deal without a formal takeover. That gives investors an exit path that avoids merger review. It also shows that the largest chip supplier wants a US open-weight model of its own, which puts more pressure on independent open-model labs that compete for the same compute.