The A.I. Funding Gold-Rush Just Hit a New Peak
Inflection Raises $1.3 Billion on a new wave of OpenAI competitors with 'too much' demand for new investors.
Mustafa Suleyman, CEO of Inflection AI, speaks during the Bloomberg Technology Summit in San Francisco, California, June 22, 2023.
When I first covered Inflection A.I. earlier in March of last year, I knew it was going to be a significant Generative A.I. Startup.
But as Generative A.I. momentum grew in the stock market and among Enterprise adoption, there’s been very consequently funding in recent days. They are in order of relative importance:
Inflection raises $1.3 Billion
Databricks acquires MosaicML for $1.3 Billion
Anthropic $450 million Series C
Cohere $270 million
Runway A.I. $141 million extension
Mistral A.I. raises $113 million in Seed Round
Typeface $100 million Series B
Are Large Language Models a General Purpose Technology?
What’s perhaps most noticeable about a lot of the more recent funding is how aggressive players like Nvidia, Google, Salesforce and Microsoft have been. It’s Enterprise A.I. that is booming. The partnerships between startups, vendors, cloud and so forth is really where the magic is happening and it’s emerging very early on.
A.I. Gold Rush in Funding is Here
I think to get a perspective on the A.I. Gold rush of funding we need to dig a bit deeper into the Inflection A.I. story.
Databricks acquires AI startup MosaicML in $1.3 billion deal
Six more companies competing with OpenAI
🦄 The top six rivals competing with OpenAI
Generative A.I. is spawning a great deal of investment in what appears to be another technology boom. The dynamics of who are funding these major moves is highly significant in how the space will later consolidate.
Startups are also being acquired for rather large valuations as we saw recently with Casetext and MosaicML. As stocks related to Generative A.I. have been surging it’s leading to a very hot summer for Generative A.I. funding and investments.
In fact, I’ve never seen anything quite like it in the A.I. space.
Inflection A.I. is also a symbol of how immensely powerful Billionaires in Silicon Valley have become to shape the future of technology. Pi as a chatbot, is warm and fuzzy. What could possibly go wrong?
Let’s talk about this in some detail.
Keep reading with a 7-day free trial