Nvidia has agreed to pay Poolside $6bn to license the software the startup used to build AI models, and to offer jobs to 109 of its staff. It is also investing $1bn in what remains, at a $12bn pre-money valuation.
The terms come from a letter Poolside sent its investors, first reported by Newcomer. The licence is non-exclusive. The three founders are staying.
The deal is “not an acquisition and it is not an acquihire”, the letter says. Poolside intends to distribute the $6bn to its investors by the end of next year.
The third deal of this shape
Nvidia has used the same structure twice before. It buys a licence, hires the staff, takes a stake, and the company continues. The licences have been non-exclusive in each case, and none of the three companies has been bought outright.
