Nvidia Weighs Mercor Investment at $20 Billion Valuation

Mercor recruits specialists to create and evaluate high-quality training data for artificial intelligence developers, addressing a bottleneck as increasingly capable models require more complex human expertise. Nvidia is among its customers and uses Mercor-supplied data in developing its open-source Nemotron models. An equity investment would extend the chipmaker’s reach further into the data and model layers of the AI supply chain.

As of Aug. 20, Nvidia was considering joining a new Mercor financing that would value the startup at $20 billion, though the terms could still change. Mercor raised $350 million at a $10 billion valuation in October 2025. The company said its annualized revenue surpassed $2 billion in June 2026, doubling from $1 billion in February as demand from AI developers accelerated.