FT just reported Nvidia is in early talks to acquire, or invest further in, Reflection AI, a $25B open-weight model start-up.

One option is an acqui-hire, in which Nvidia hires Reflection’s staff and licenses its technology without the antitrust review a full takeover would trigger.

Nvidia used that structure for its $20B Groq deal last December, and a deal could come within weeks, though the talks could still fall apart.

Nvidia is already one of Reflection’s largest shareholders after investing $800M and the Trump administration also wants Reflection to compete with China.

Last week Reflection released Beam, a sparse mixture-of-experts model with 501B total parameters, 23B of them active, built for coding, reasoning and agent work.

Reflection says Beam is competitive with the larger GLM 5.2 on coding and agentic tasks, and matches its reasoning scores while using 3x to 4x less inference compute.