AI Startups Rake in Billions
AI isn’t going anywhere, and the venture capitalists are only too aware of it. This past Thursday, the cash rained down on the AI scene, with three startups sharing a hefty $1.5 billion pie — and the slice-of-life story here? Inflection AI, the little startup that could, with its impressive $1.3 billion round.
Inflection AI: The New Kid on the AI Block
Now, this funding isn’t just from any old players. We’re talking the likes of Microsoft, Reid Hoffman, Bill Gates, Eric Schmidt, and the newbie on the block, Nvidia. These industry giants have bumped Inflection AI’s value up to $4 billion, as reported by Forbes. What’s more, Inflection’s total raise now surpasses the $1.5 billion mark.
What’s the big deal about Inflection AI, you ask? Well, in collaboration with CoreWeave and Nvidia, they’re aiming to build the world’s most extensive AI cluster. They’ve even developed their own language models for a little AI assistant, adorably named Pi (or Personal AI if you’re feeling formal). The purpose? To serve you information and advice about what you love, quicker than you can Google it.
Co-founded by Mustafa Suleyman, the brains behind the Google-owned AI lab DeepMind, Inflection is a new entrant in the AI arena, challenging the likes of OpenAI and Google.
Runway and Typeface: Making their Mark in the AI Race
Let’s not forget the other kids on the block. Inflection’s massive funding round, while noteworthy, isn’t the only AI-related news. Runway, based in the Big Apple, has also raised a cool $141 million, extending its December $50 million Series C funding. This fund was backed by tech giants Google, Nvidia, and Salesforce Ventures, among others.
Then there’s San Francisco’s very own Typeface. After launching in February with a sizeable $65 million raise, it announced another $100 million Series B this Thursday. This round saw participation from Salesforce Ventures, Lightspeed Venture Partners, Madrona, GV, Menlo Ventures, and M12 (Microsoft’s venture fund).
Big Names in Tech Back AI Startups
Sure, the dollar figures are staggering, but the big names attached to these investments? That’s what really grabs the attention. It seems like every tech titan is scrambling to claim their share of the AI pie — regardless of the cost.
