Poolside raises $1B from Nvidia as "HALO" deals reshape AI M&A
kevinakwok · x · 2026-08-21
Kevin Kwok analyzes the emerging "HALO" (Hire and License Out) deal structure in the AI industry. Citing Poolside's $1B raise and $6B licensing deal with Nvidia, the model involves hiring a startup's core team while licensing its IP. The startup distributes substantial licensing fees to investors and employees but continues operating under new leadership. This structure differs from acquisitions or acqui-hires and has been seen in deals involving Inflection, Character AI, and Adept.
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