The artificial intelligence startup and Menlo Ventures are launching a $100 million fund on Wednesday to back early-stage startups, and get them using the AI company's technology.
It initially started with $100 million in 2008, and doubled to $200 million two years later.
Venture capitalists are now looking for ways to sweeten their offers to court AI startups, as investors swarm to the hottest deals.
Funding for AI startups more than doubled in the second quarter from the first, topping $24 billion, according to data from Crunchbase.
OpenAI has its own venture fund, the OpenAI Startup Fund, which its website says is "investing $175 million to help AI companies have a profound, positive impact on the world."
Persons:
Anthropic, Kleiner Perkins, Matt Murphy, Murphy, Daniela Amodei, Dario, OpenAI, ChatGPT
Organizations:
Menlo Ventures, Menlo, Apple, CNBC, Venture, OpenAI, Fund
Locations:
Crunchbase