Decentralized AI Lab Nous Research Hits $1 Billion Valuation in Paradigm-Led Round

Nous Research is a decentralized AI lab focused on open-source models, with its Hermes series emphasizing customizable models available for public use. The lab aims to break Big Tech’s concentrated control over computing power and training resources. It uses the Solana-based Psyche network to coordinate distributed computing capacity, attracting attention from both the AI and crypto industries.

Nous Research completed a $50 million Series A funding round in April 2025 led by crypto venture capital firm Paradigm, giving it a post-money valuation of $1 billion. The new funding will support further development of the Hermes models and advance the Psyche network, enabling computing resources in different locations to jointly train large AI models.