TNB Tech Minute: Nvidia-Backed AI Startup Seeks $25 Billion Valuation

OutSystems is an outstanding way to quickly deploy apps and AI agents in the River Results,

a top U.S. bay deployed apps for customers to open new accounts, while a global brewer developed an app to automate tasks worldwide.

OutSystems, build your agentic future.

Here's your morning TNB Tech Minute for Thursday, March 26th.

I'm Danny Lewis for the Wall Street Journal.

We exclusively report that an Nvidia backed startup seeking to build a U.S. network of open source artificial intelligence models

is in talks to raise $2.5 billion at a valuation of $25 billion.

According to people familiar with the matter, Reflection, which is seeking to counter China's AI offerings,

is in funding discussions with JP Morgan Chase, among other companies.

Reflection has also developed close ties with Nvidia, which invested about $800 million in a previous funding round,

though the young startup has yet to generate meaningful revenue.

A Reflection spokesperson declined to comment.

In another exclusive, we are reporting that OpenAI is backing a new AI startup, Isara,

which aims to build software that lets AI agents communicate and solve complex problems in industries such as finance and biotech.

The startup recently raised $94 million from investors, including OpenAI,

which backed the company at a $650 million valuation.

OpenAI has recently moved to deprioritize certain products in favor of focusing on business services,

including software engineering tools.

NewsCorp, owner of the Wall Street Journal, has a content licensing partnership with OpenAI.

And Memory Chipmakers slumped after Google unveiled technology this week that could reduce the amount of memory needed in AI models.

Google researchers say the new compression algorithm, called TurboQuant,

can shrink the amount of short-term memory in AI model uses by at least six times,

quote, all with zero accuracy loss.

Shares in Micron Technology, the largest American maker of memory chips, is down roughly 4.5% this morning.

Memory and storage chip companies like Western Digital, Sandisk, and Seagate Technology also retreated.

And that's your TNB tech minute. We'll be back this afternoon with more.

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Because it's an outstanding way to quickly deploy apps in AI agents and deliver results.

A top US bank deployed apps for their customers to easily open new accounts on any device.

We helped a leading global insurer quickly deliver a portal and app for their employees,

while a global brewer developed an app to automate tasks to clear bottlenecks.

Out systems, build your agentic future.

To learn more, visit outsystems.com slash WSJ.