Reka AI achieves unicorn status

Reka AI, a three-year-old AI startup, has secured $110 million in funding from investors including Nvidia and Snowflake. This investment has more than tripled the company's valuation to over $1 billion. Reka AI, founded in 2022 by researchers from Google and Meta, develops large language models (LLMs) for generative AI applications.

The company's focus has expanded from creating efficient foundation models to developing tools for interfaces and application logic. Snowflake plans to offer Reka AI's models to its customers. Reka AI's capabilities are considered competitive, with its models approaching the performance of GPT-4 and Gemini Ultra.

Prior to this funding round, Reka AI was valued at approximately $300 million. Snowflake previously considered acquiring Reka AI, but the deal did not proceed. Reka AI has grown to 50 employees and intends to use the funding to accelerate product development.