Mercor's revenue stream has traditionally been anchored in collaborations with closed-source AI model developers, including prominent names like OpenAI. However, the landscape is shifting with NVIDIA's introduction of the Nemotron open-source large-scale model, which has spurred a notable uptick in Mercor's business ties—and consequently, its revenue—with the tech giant. Specializing in aiding chip companies in the creation of open-source AI models, Mercor's valuation has soared to $20 billion in this latest funding round. Notably, existing investor General Catalyst is in negotiations to spearhead this financing initiative.