Snowflake in talks to purchase Reka AI for $1B – Bloomberg

Snowflake (NYSE:SNOW) is in discussions to acquire Reka AI for more than $1 billion.

The talks may not result in a transaction, according to a Bloomberg report late Thursday, which cited people familiar with the matter.

A Snowflake spokesperson declined to comment to Bloomberg. Reka couldn’t be reached for comment.

Reka, an AI model startup founded by former researchers from Alphabet’s DeepMind, raised $50 million in a fundraising round, which valued the company at $300 million, according to a Reuters report last June. The fundraising round including funding from Snowflake’s venture arm.