Nvidia Backs Nous Research in $90M Round at $1.5B Valuation

Nous Research, the developer of the Hermes AI assistant, raised $90 million in a Series B funding round at a $1.5 billion valuation, with Nvidia among the participating investors. The Wall Street Journal reported that the company is shifting toward the corporate market to capitalize on the tool's rapid adoption, bringing its open-source technology to enterprise users through a new suite of tools designed for professional environments. The Hermes agent has been downloaded 22.7 million times since February, and the company's annualized revenue was approximately $36 million as of mid-September, with management forecasting revenue to exceed $100 million by the end of the year.