Reka AI, an AI firm focused on large language models, has raised US$110 million in a funding round backed by Nvidia and Snowflake.

This investment values the company at over US$1 billion, a significant increase from around US$300 million following its 2023 funding round, according to PitchBook data.

Founded in 2022 by former researchers from Google and Meta, Reka AI creates foundation models and tools for businesses.

This includes interfaces and application logic.

The company has expanded its workforce from 20 to 50 employees in the past year to support its product development efforts.