Nous Research
Category: Foundation Models / LLMs
Applied AI research group developing and open-sourcing advanced Large Language Models (LLMs), datasets, and architectural improvements, exploring decentralized training. Nous Research was founded in 2023. The company is led by Jeffrey Quesnelle. Based in New York, New York, United States. Team size: N/A. Total funding raised: $158M. Latest round: Series B. Key investors include Robot Ventures, Paradigm, NVIDIA, Microsoft, Samsung, Union Square Ventures, Y Combinator, Menlo Ventures, Distributed Global, Delphi Digital, North Island Ventures, Hack VC.
- Founded
- 2023
- Headquarters
- New York, New York, United States
- Team size
- N/A
- Total funding
- $158M
Value proposition
Providing high-performance, open-source alternatives to closed AI models through cutting-edge research in language modeling, data synthesis, and local inference.
Products and solutions
Hermes Agent (open-source MIT-licensed AI agent), Hermes for Businesses (enterprise agent platform, launched Oct 2026), Hermes 4/4.3 open-weight LLMs, Psyche decentralized training network (Solana-based), Open-source datasets, Research publications
Unique value
Focus on open-source AI research and development, particularly LLMs; exploring decentralized training mechanisms potentially via crypto incentives.
Target customer
AI researchers, developers, and organizations utilizing open-source LLMs.
Industries served
Technology, AI Research & Development
Technology advantage
Community-driven model improvement via open-source, potential for more transparent and accessible AI compared to closed-source competitors, leveraging crypto-economic models for training.
How they differentiate
Primarily through its commitment to open-source models and research, exploration of decentralized/crypto-incentivized training methods.
Main competitors
OpenAI, Anthropic, Mistral AI, DeepSeek
Key partnerships
Paradigm (Investor), Collaborations within the open-source AI community (e.g., Hugging Face, EleutherAI)
Notable customers
Not applicable (Focus on open-source community users and developers)
Major milestones
Release of popular open-source LLMs (e.g., Hermes series) Securing $50M investment from Paradigm (April 2024) Establishing a strong presence in the open-source AI research community
Growth metrics
~$36M annualized revenue run rate as of mid-Sep 2026 (WSJ); company expects >$100M by end of 2026; Hermes Agent ~22.7M downloads (WSJ)
Market positioning
Challenger in the Generative AI/LLM space with a strong reputation within the open-source community.
Geographic focus
Global
Patents and IP
Not publicly available
About Jeffrey Quesnelle
Jeffrey Quesnelle is the co-founder and CEO of Nous Research. He holds a Master of Science in Computer Science from the University of Michigan-Dearborn and an undergraduate degree in Computer Science and Mathematics from Oakland University. His professional interests include AI, cryptocurrencies (with a focus on MEV), and theology. Before founding Nous Research, he worked as an MEV engineer at Eden Network. He is also a published researcher with numerous citations in the field of computer science.
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Official website: https://nousresearch.com/