Reka AI Raises $110 Million, Surges to $1 Billion Valuation

Multimodal artificial-intelligence startup Reka AI has raised $110 million in new financing from a group of investors that includes Nvidia Corp. and Snowflake Inc., lifting the two-year-old company’s valuation to more than $1 billion, according to a company statement released on Tuesday. Reka, headquartered in Sunnyvale, California, builds ultra-efficient models capable of processing text, images, video and audio. Its flagship Reka Flash 3.1 model, along with recently launched platforms Reka Vision and Reka Research, forms the core of its push to make multimodal AI tools cheaper to train and deploy. The fresh capital will be used to speed technical development and expand enterprise adoption of these products. The round more than triples Reka’s valuation from about $300 million in 2023, when the firm last raised funds and was the subject of ultimately abandoned takeover talks by Snowflake. The sharp repricing highlights investor demand for independent AI model developers amid a broader race to commercialize generative technologies.