Formation Bio, a startup focused on applying AI to drug development with backing from OpenAI CEO Sam Altman, has raised over a quarter-billion dollars to support its ambitious product roadmap. Formation announced Wednesday that it raised $372 million in a Series D funding round led by Andreessen Horowitz with participation from drug maker Sanofi, Sequoia, […]
Formation Bio raises $372M to boost drug development with AI Read More »
The airline industry is headed for record revenue this year — $996 billion — as the demand for travel soars. But the margins remain razor-thin. According to the trade association IATA, total expenses for airlines are projected to reach $936 billion, with earnings coming out to around $6.14 per passenger. That’s about the price of
Fetcherr lands $90M to get airlines on board with dynamic pricing Read More »
Stability AI, the beleaguered generative AI startup behind Stable Diffusion, has raised new cash. But it won’t reveal how much. Greycroft, Coatue Management, Sound Ventures, Lightspeed Venture Partners, O’Shaughnessy Ventures and angel investors Prem Akkaraju, Napster founder Sean Parker, Eric Schmidt and Robert Nelsen have injected fresh capital into Stability, the company revealed Tuesday morning
Stability AI lands a lifeline from Sean Parker, Greycroft Read More »
Joseph Phillips and William Corbera, both of whom come from entrepreneurial backgrounds, have been friends for over a decade. Corbera co-founded RevoPay, a payments processing platform that was acquired by payments solutions firm OSG in 2022. Phillips, for his part, led the national sales team at Seamless before heading up sales at ServiceTitan, a web-based
Payabli is building payment management tools for software startups Read More »
Devs often rely on local environments — i.e. their laptops — to write, build and test code before shipping it to a cloud service to integrate and deploy it. There’s nothing wrong with that approach. But local development can introduce challenges, like conflicts between dev environments and, in the worst case, security exploits. The usability
Coder nabs new funds to move dev environments to the cloud Read More »
A relatively new startup called EvolutionaryScale has secured a massive tranche of cash to build AI models to generate novel proteins for scientific research. EvolutionaryScale today announced that it raised $142 million in a seed round led by ex-GitHub CEO Nat Friedman, Daniel Gross and Lux Capital with participation from Amazon and NVentures, Nvidia’s corporate
EvolutionaryScale, backed by Amazon and Nvidia, raises $142M for protein-generating AI Read More »
As generative AI touches a growing number of industries, the companies producing chips to run the models are benefitting enormously. Nvidia in particular, which commands an estimated 70% to 95% of the market for AI chips, wields massive influence. Cloud providers from Meta to Microsoft are spending billions of dollars on Nvidia GPUs, wary of
Etched is building an AI chip that only runs one type of model Read More »
Yet another generative AI venture has raised a bundle of money. And, like the others before it, it’s promising the moon. Emergence, whose co-founders include Satya Nitta, the former head of global AI solutions at IBM’s research division, on Monday emerged from stealth with $97.2 million in funding from Learn Capital plus credit lines totaling
Emergence thinks it can crack the AI agent code Read More »
OpenAI is on an M&A tear. Days after acquiring database tech firm Rockset, OpenAI has purchased Multi (previously Remotion), a startup developing a enterprise-focused, video-first collaboration platform. A source familiar with the matter says that the deal is technically an acquihire and that most of Multi’s team — around five people — will join OpenAI
OpenAI buys a remote collaboration platform Read More »
The majority of companies struggle to extract value from their data. Several years ago, Forrester reported that between 60% and 73% of data belonging to the average business goes unused for analytics. That’s because the data’s siloed or otherwise pigeonholed by technical and security considerations, making it difficult — if not impossible — to apply analytical tools.
OmniAI transforms business data for AI Read More »
