Reflection AI
Lab that aims to build frontier open-weight models in the US, backed by Nvidia.
- Value
- $8B after a $2B round led by Nvidia in October 2025. Talks at $25B reported in 2026
- Based in
- US
- Listed
- Private
Nvidia put in about $800M, which marks it as a US alternative to Chinese open-model labs.
Reports in mid-2026 said it had not yet released a flagship model or weights.
Money going out
Who Reflection AI pays to do what it does.
No suppliers of Reflection AI mapped yet.
Where it sits on the map
Competitors and neighbours
Makes ChatGPT, the assistant most people use, and sells its models to businesses through an API.
About $13B revenue in 2025, against about $34B of costs (reported)
Open profileMakes Claude and Claude Code, and is strongest with businesses and software builders.
Annualised revenue run rate above $65B at the end of July 2026, reported from an investor update (Aug 2026)
Open profileMakes Gemini, the assistant built into Android, Search and Workspace.
25% of AI chip supply (Epoch AI)
Open profileSells Microsoft 365 Copilot inside Office and Windows, and owns a large stake in OpenAI.
20M+ users (2025)
Open profileBuilds Meta AI into Facebook, Instagram and WhatsApp, and makes the Ray-Ban glasses with EssilorLuxottica.
Sales more than tripled (H1 2025)
Open profileDesigns its own Trainium AI chips and rents them out through AWS.
5% of AI chip supply (Epoch AI)
Open profileFrench lab with open and paid models, chosen by European firms that want data kept in Europe.
About $14B valuation (Sep 2025)
Open profileLab founded by former OpenAI leaders, which sells Tinker for managed fine-tuning of open models.
Annualised run rate above $100M, self-reported and unaudited
Open profileChinese research lab that releases its strongest models as open weights.
About 475M yuan (about $70.7M) in the first seven months of 2026 (The Information, reported)
Open profileSources: folio3.ai, app.dealroom.co, ai2.work
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