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☆ Business spending on AI surged 500% this year to $13.8 billion, says Menlo Ventures
▼ + stars: | 2024-11-20 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Business spending on generative AI surged 500% this year, from $2.3 billion in 2023 to $13.8 billion, according to data released by Menlo Ventures on Wednesday. The report also found that OpenAI ceded market share in enterprise AI, declining from 50% to 34%. Anthropic doubled its market share from 12% to 24%. Although OpenAI and Anthropic dominated companies' AI model use, he said, people are "juggling models" and that habit is "not a well-understood piece of data." Meta 's market share stayed at 16% and Cohere's share remained at 3%.

Persons: Anthropic, OpenAI, Tim Tully, Claude, Tully, that's, Mistral's, Google's, Anthropic's Claude, —, chatbots Organizations: Menlo Ventures, Menlo, CNBC, Google, Microsoft Locations: Anthropic

☆ Meet the OpenAI mafia: These 23 former employees left the AI juggernaut and founded startups that have collectively raised billions
▼ + stars: | 2024-11-16 | by ( Samantha Stokes | Riddhi Kanetkar | ) www.businessinsider.com time to read: +3 min

Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, and Sam McCandlish, cofounders of AnthropicAnthropic's Dario Amodei, Jack Clark, and Daniela Amodei. Since then, the company has received billions in funding from both Google and Amazon in what some have termed an "AI arms race." CEO Dario Amodei, a former Google Brain researcher with a Ph.D. in computational neuroscience, has been writing about the cataclysmic potential of AI since 2016. Constitutional AI is partly the brainchild of two other OpenAI alums and Anthropic cofounders, Tom Brown and Jared Kaplan. Both Kaplan and Brown have worked on Anthropic's efforts to "red team" the company's flagship language model, Claude, probing for misuse possibilities.

Persons: Dario Amodei, Daniela Amodei, Tom Brown, Jack Clark, Jared Kaplan, Sam McCandlish, Anthropic Anthropic's Dario Amodei, Menlo Ventures Anthropic, Amodei's, Anthropic, —, Anthropic cofounders, Brown, Kaplan, Johns Hopkins, Claude, AGI, I'm Organizations: Google, Menlo Ventures, Bloomberg, Johns, OpenAI Locations: OpenAI, GPT

☆ Meet Glean, the enterprise AI search company that's so powerful Sam Altman deemed it a threat to OpenAI
▼ + stars: | 2024-10-31 | by ( Sri Muppidi | ) www.businessinsider.com time to read: +10 min

Among them are Anthropic, Elon Musk's xAI, OpenAI cofounder Ilya Sutskever's Safe Superintelligence, and AI search startup Perplexity. The last of the five rivals, and perhaps the least well-known, is Glean, an enterprise search assistant. Founded in 2019 by Rubrik cofounder and ex-Googler Arvind Jain, Glean helps corporate workers find information across their companies' tools and data. Related Video Sam Altman moves to Microsoft after OpenAI fires him as CEOThe company enables AI search by integrating apps like Slack and Dropbox and powering search across their company's universe of data. AdvertisementBesides enterprise search, Glean also has an AI assistant that generates answers based on search results, such as summarizing the day's Slack messages or synthesizing multiple documents.

Persons: Glean, Jain, —, Sam Altman, Elon Musk's, Ilya Sutskever's, Googler Arvind Jain, Kleiner Perkins, Deedy Das, Larry Page, Das, Bipul Sinha, Rubrik, Mamoon Hamid, Vishwanath, Tony Gentilcore, Piyush Prahladka, …, Arvind, Hamid, Paul, Rajeev Dham, they're, Slack, Altman, It's Organizations: Google, Service, Elon Musk's xAI, DST Global, Sapphire Ventures, Sequoia, Microsoft, Sony Electronics, Entrepreneurship, Indian Institute of Technology, IIT, Menlo Ventures, IIT Delhi, University of Washington, Akamai Technologies, Technology, YouTube, Kleiner Locations: Jaipur, Indian, IIT Delhi, India, Glean, Seattle

☆ AI coding startups are becoming a hotspot for VCs. Here are the 12 copilots that have landed funding from funds like a16z, Lightspeed, and Menlo Ventures.
▼ + stars: | 2024-10-14 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

VCs are investing in generative AI coding and copilot startups. AI coding tools automate coding tasks, allowing developers to focus on creativity. BI has identified which startups in the space have so far raised the most funding from VCs. AdvertisementThe AI revolution shows no signs of slowing down, and some VCs are turning their attention to a new corner of the market: generative AI coding and copilot startups. "I'm really high on AI coding assistants," Menlo Ventures partner Tim Tully recently told Business Insider.

Persons: —, Tim Tully, Kanu Gulati, PitchBook, Elad Gil Organizations: Service, Menlo Ventures, Business, Khosla Ventures, Lightspeed Venture Partners Locations: VCs, Korbit, PitchBook

☆ The stock market has officially enjoyed a bull rally for over two years. So now what?
▼ + stars: | 2024-10-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, the stock market has officially enjoyed a bull rally for over two years. The big storyBullish on the bull marketNoam Galai/Getty ImagesHappy belated birthday to the stock market's bull rally! Stock market experts who spoke with Business Insider's Matthew Fox don't see things slowing down anytime soon . In fact, the average bull market lasts longer than five years, so we might not even be halfway to the finish line. The actual stock market is healthier, too, as it's no longer reliant on the Magnificent Seven's performance.

Persons: —, Noam Galai, Insider's Matthew Fox, Chelsea Jia Feng, we've, Alex Brandon, Jamie Dimon, Ken Griffin, he's, Republican megadonor hasn't, BlackRock, Jett Lara, Augustus Doricko, Doricko, Roblox, Natalie Ammari, Inflation's, Z's, It's Elliott Hill's, Hill, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Business, Service, Nasdaq, Dow Jones, Stock, Insider's, JPMorgan, Republican, Citadel, Wall, Menlo Ventures, Nike, Columbus, District of Columbia Locations: Chelsea, Ukraine, El Segundo , California, a16z, New York, it's, Italian American, London

☆ Tim Tully taught himself to code at age 6 and still codes daily. Here's how computer science took him from startups to AI investing at Menlo Ventures.
▼ + stars: | 2024-10-07 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +7 min

He joined VC firm Menlo Ventures in 2021 and has invested in generative AI startups like Pinecone. Using his technical expertise as a former programmer and CTO, Tully is helping amass an impressive portfolio of AI startups at Menlo Ventures. He's also written code as a way to help win over startups in the broader Menlo Ventures portfolio. That helped seal the deal, and Ionita led Orb's $14 million Series A funding round. While Menlo has been bolstering its portfolio with AI infrastructure startups, Tully said he's excited these days about opportunities at the application layer.

Persons: Tim Tully, —, Tully's, Tully, He's, Warby Parker, Roku, Uber, Jess Lee, I've, Naomi Pilosof Ionita, Ionita, he's, legaltech –, Eve Organizations: Yahoo, Menlo Ventures, Service, Venture, Apple, Menlo, Bay Area, Data Systems, Oracle, AOL, Huffington, Sequoia Locations: Bay, Splunk, –

☆ OpenAI's rivals are on the prowl after an exodus of high-level executives
▼ + stars: | 2024-10-02 | by ( Melia Russell | Ben Bergman | ) www.businessinsider.com time to read: +7 min

Investors are flocking to OpenAI, but it's losing high-level executives at an alarming rate. Suddenly, it's open season for OpenAI employees. Rivals like Anthropic and Perplexity are signaling to workers that they put mission over profits. Suddenly, it's starting to feel like open season for OpenAI employees. A recruiter said his search firm has fielded more interest from current OpenAI employees since the board's ouster of Sam Altman a year ago.

Persons: —, Mira Murati, Ilya Sutskever, Andrej Karpathy, John Schulman, Greg Brockman, Alex Klein, he's, Dan Miller, Tim Tully, Sam Altman, Jason Redmond, weren't, Klein, OpenAI, Jack Guez, Anthropic, Jan Leike, Schulman, Durk Kingma, Kingma, Matt Murphy, Arvind Jain, Jain, Matt Hoffman, Johnny Ho, Ho Organizations: Rivals, Service, OpenAI, LinkedIn, Menlo Ventures, Ark Venture Fund, Business, Getty, Google, Anthropic, Employees, Engineers Locations: OpenAI, AFP, Bay

☆ Exclusive: Healthcare AI startup Tennr is raising fresh cash from Lightspeed Venture Partners just months after its A16z-led Series A
▼ + stars: | 2024-09-24 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +3 min

Read previewTennr, an A16z-backed startup using AI to replace faxes in healthcare, is raising a Series B round just seven months after its Series A. The startup is grabbing fresh cash from Lightspeed Venture Partners, according to two people with knowledge of the efforts. Those two people said Lightspeed preempted the fundraising efforts, approaching Tennr before the startup set out to raise more money. AI startups like Perplexity and Groq are reportedly tacking on more funding right now after closing big deals earlier this year. Some investors are taking the same approach with healthcare AI startups.

Persons: —, Tennr, Andreessen Horowitz, clamor, Forbes Organizations: Service, Lightspeed Venture Partners, Lightspeed, Business, Menlo Ventures, A16z Locations: Tennr, A16z . New York

☆ Amazon's Bedrock success prompts a surprising question: Do you need a top model to win in AI?
▼ + stars: | 2024-09-24 | by ( Eugene Kim | ) www.businessinsider.com time to read: +6 min

Read previewSo far, the generative AI race has been about who can build the most powerful models. Almost two years later, there are so many powerful AI models out there, it's no longer that special. Advertisement'Important but not critical'AWS CEO Matt Garman appears to be fine not having a fancy, home-grown AI model. "It'll be important but not critical," Garman said when asked about the importance of offering a top-performing first-party AI model. AGI teamThis doesn't mean Amazon has given up on building its own powerful AI model.

Persons: —, Claude, Meta's, Matt Murphy, Anthropic, Murphy, ChatGPT, Patrick Neighorn, Amazon's, Andy Jassy, Matt Garman, Garman, Matt McIlwain, Brent Thill, Jefferies, Thill Organizations: Service, Google, Business, Microsoft, OpenAI, Gemini, Menlo Ventures, AWS, Intuit, Toyota, New York Stock Exchange, BI, Asia, Madrona Venture Group, Amazon Locations: Europe, Middle East, Africa, Asia Pacific, Japan, North America

☆ The hottest AI startups are raising back-to-back funding rounds. Suddenly, it's feeling very 2021 in Silicon Valley for a chosen few.
▼ + stars: | 2024-09-20 | by ( Ben Bergman | Melia Russell | ) www.businessinsider.com time to read: +11 min

Read previewIn February, Glean announced a $200 million funding round valuing the AI enterprise software startup at $2.2 billion. AdvertisementThe transaction is the latest in a string of dizzying back-to-back funding rounds at ever-higher valuations for a handful of AI startups that stand in stark contrast to the doldrums of the overall market for startups. Earlier this year, Sakana raised $30 million in a seed funding round led by Lux Capital. Slingshot AI, which has built an automated mental health counselor, also raised separate rounds of funding just months apart. Advertisement"VCs are increasingly faced with frequent requests from their hot AI companies to follow on or double down on investments," said Iris Sun, an investor at 500 Global.

Persons: —, Glean, Arvind Jain's inbox, Jain, Steve Brotman, Perplexity, SoftBank, Sakana, Gregg Hill, that's, Matt Murphy, Dario Amodei, Kimberly White, Murphy, I'd, I've, Jenny Chang, Rodriguez, Jai Das, Rajeev Dham, couldn't, Das, Sapphire, Uber, Iris Sun, Chandrasekar Organizations: Service, Business, DST Global, Alpha Partners, Bloomberg, Google, New Enterprise Associates, Khosla Ventures, Lux Capital, Parkway Venture Capital, Menlo Ventures, Getty, Sapphire Ventures, Investments Locations: Tokyo

That continues a trend from 2023, when generative AI companies raised $25.9 billion for the full year, up more than 200% from 2022. The average round for AI companies is 140% bigger this year compared with last, the data shows, while for non-AI companies the increase is only 10%. Most venture investors are bullish on the potential for generative AI to eventually create big returns at the application layer. John-David Lovelock, an analyst at Gartner and a 35-year veteran of the IT industry, sees a big opportunity for generative AI in the enterprise. Yet, in 2024, only 1% of the trillion dollars spent on software will be from businesses spending on generative AI products, he said.

Persons: Adam Selipsky, Anthropic, Dario Amodei, Noah Berger, aren't, They're, Melissa Incera, Chip Hazard, PitchBook, that's, Cerebras, hasn't, Jeremiah Owyang, Owyang, That's, —, Cohere, Tobias Lutke, Inovia, JPMorgan Chase, Elon Musk's, what's, NASA's, Joe Raedle, Michael Harris, David Lovelock, Lovelock Organizations: Amazon Web, Getty, Microsoft, Nvidia, Tech, P Global Market Intelligence, CNBC, U.S, Forge, Flybridge Capital Partners, Federal Reserve, Meta, Nasdaq, Benchmark, Foundation Capital, SEC, Blitzscaling Ventures, Menlo Ventures, Inovia, Menlo, SPV, AMD, Oracle, Representatives, JPMorgan, Morgan Private Ventures, Elon Musk's SpaceX, SpaceX, Polaris, NASA's Kennedy Space Center, New York Stock Exchange, NYSE, Astera Labs, Tempus, Google, Facebook, Gartner Locations: Vegas, Las Vegas, PitchBook, Anthropic, Montreal, xAI, Cape Canaveral , Florida

☆ Legal tech is undergoing an AI revolution. Here are the 15 startups that have raised the most funding from VCs like a16z and Menlo Ventures.
▼ + stars: | 2024-08-29 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewLegal tech is having a moment in the spotlight, thanks in part to advancements in artificial intelligence. AdvertisementBusiness Insider has identified 15 legal tech startups that have raised the most funding from investors, via an analysis of PitchBook data. AdvertisementWe organized our list based on the total amount of VC funding each startup has received.

Persons: —, AI, Harvey Organizations: Service, Business, Clio, Rocket Locations: London

☆ Hollywood has a big problem with how people are watching TV these days
▼ + stars: | 2024-08-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, viewers are opting for free TV, and that's throwing a massive wrench in Hollywood's plans . AdvertisementBut first, what's on (free) TV? The big storyChanging channelsGetty Images; iStock; Natalie Ammari/BIIf the best things in life truly are free, Hollywood is about to learn a brutal lesson. But what's really caught people's attention over the past year has been "free, ad-supported TV" or FAST services. Figuring out how to make money from free TV is a big enough problem.

Persons: —, Natalie Ammari, upend, Insider's Lucia Moses, what's, Andy Kiersz, Fox's Tubi, Gen Z, that's, Jenny Chang, Rodriguez, cofounders, John Overdeck, David Siegel, Carter Lyons, Scott Hoffman, Warren Buffett's, Berkshire Hathaway, Buffett, Noah Berger, Chelsea Jia Feng, Jensen Huang, Alyssa Powell, Banks, Sam Altman's, Kamala Harris, Tim Walz's, Dana Bash, Dan DeFrancesco, Hallam Bullock, Milan Sehmbi, Amanda Yen Organizations: Service, Business, Tech, Hollywood, Nielsen, Netflix, Paramount, Pluto, Comcast, Warner Bros . Discovery, YouTube, Getty, Big Tech, Chelsea, Menlo Ventures, CNN Locations: Berkshire, A16z, New York, London

☆ Exclusive: Buzzy mental health startup Slingshot AI just grabbed $30 million from A16z
▼ + stars: | 2024-08-20 | by ( Rebecca Torrence | Sri Muppidi | ) www.businessinsider.com time to read: +1 min

Slingshot AI raised about $30 million in an Andreessen Horowitz-led round, per multiple sources. The startup grabbed a fast-follow from Menlo Ventures shortly after the initial round, sources say. Go to newsletter preferences Thanks for signing up! Slingshot AI, which launched this year to build large-language models for behavioral health, just grabbed about $30 million in a fresh funding round led by top VC firm Andreessen Horowitz, according to three people with knowledge of the deal. Two sources said the round valued Slingshot at more than $100 million.

Persons: Andreessen Horowitz, — Organizations: Menlo Ventures, Service, Business

☆ Abnormal Security, valued at $5.1 billion amid email security push, eyes eventual IPO
▼ + stars: | 2024-08-06 | by ( Riley De León | ) www.cnbc.com time to read: +3 min

The cybersecurity software contender has more than 2,400 customers, including Maersk, Xerox and Mattel — in all, some 17% of the Fortune 500, according to the company. Cybersecurity company Abnormal Security said Tuesday it has raised $250 million in a Series D funding round that values the firm at $5.1 billion. With Microsoft surpassing $20 billion in cybersecurity revenue last year, competition has picked up among cybersecurity sector incumbents Cloudflare, Zscaler and Palo Alto Networks. Additionally, CrowdStrike veteran James Yeager was recently hired to head up public sector sales, an area that the email security vendor is targeting for growth. In March, Abnormal hired CFO Smita Sanadhya, a former executive at Microsoft Hong Kong and HP as well as startup Okta, which she helped to scale to a $2 billion public company.

Persons: Evan Reiser, Cloudflare, Reiser, Michael DeCesare, James Yeager, Smita Sanadhya, Jeff True Organizations: Twitter, Maersk, Xerox, Mattel, Fortune, Wellington Management, Greylock Partners, Menlo Ventures, Insight Partners, Security, Microsoft, Palo Alto Networks, Software, Cloudflare, CNBC, Forescout Technology, Microsoft Hong Kong, HP, Abnormal Locations: Zscaler, Palo, Exabeam

☆ Venture capitalist discusses how Silicon Valley, Musk view the U.S. election
▼ + stars: | 2024-07-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVenture capitalist discusses how Silicon Valley, Musk view the U.S. electionVenky Ganesan, partner at Menlo Ventures, discusses how Silicon Valley is looking at the U.S. presidential elections and Tesla owner Elon Musk's endorsement of Republican nominee Donald Trump.

Persons: Venky Ganesan, Elon Musk's, Donald Trump Organizations: Email Venture, Menlo Ventures, U.S

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

This week, the 28-year-old venture capital firm debuted a new pair of funds totaling $2.3 billion, a substantial sum during an abysmal time for the industry's fundraising efforts. The European-born firm is structured in a way that investors across continents invest out of the same funds. The new funds include $800 million to invest at the early stage and $1.5 billion to invest in growth. Those figures are slightly down from the firm's last fundraise, when it collected $900 million for an early-stage fund and $2 billion for a growth fund. That year, Index saw seven portfolio companies go public at a market cap of more than $1 billion, including Roblox and Robinhood.

Persons: —, Nina Achadjian, Sofia Dolfe, Ishani Thakur, Vlad Loktev, Erin Price, Wright, Andreessen, Mark Goldberg, He's, Ethan Kurzweil, Kristina Shen, Mike Volpi, Greycroft Organizations: Service, Ventures, Business, San, Labs, Bessemer Venture Partners, Menlo Ventures Locations: San, West Coast, San Francisco, Index's London, New York, London, Europe

☆ AI startup Abnormal Security is set to be valued at $5 billion in new funding round, sources say
▼ + stars: | 2024-07-01 | by ( Ben Bergman | Sri Muppidi | ) www.businessinsider.com time to read: +1 min

Abnormal Security uses AI to guard users from cyber threats across email and apps. It is set to be valued at $5 billion in a fresh funding round, according to two sources. The company was valued at $4 billion in a 2022 funding round led by Greylock Partners. AdvertisementAbnormal Security, a startup that uses artificial intelligence to guard users from cyber threats across email and apps, is set to be valued at $5 billion in a fresh funding round, according to two sources familiar with the deal. The company has raised a total of $374 million in venture funding.

Persons: — Organizations: Security, Greylock Partners, Service, Insight Partners, Menlo Ventures, The Syndicate Group, Business

☆ Anthropic-backer Menlo Ventures is preparing for a 'gold rush' of AI infrastructure startups. Here's why.
▼ + stars: | 2024-03-18 | by ( Samantha Stokes | Darius Rafieyan | ) www.businessinsider.com time to read: +6 min

Menlo Ventures has been an early backer of AI powerhouses including security startup Abnormal, LLM developer Anthropic, and vector database Pinecone. "AI itself is not new, I think it's just how mainstream it's become," Matt Murphy, a Menlo Ventures partner who invests in SaaS and robotics startups, told Business Insider in an interview. AI's "picks and shovels"Murphy and fellow Menlo Ventures partner Tim Tully say that 2024 will be a big year for the "picks and shovels" of AI. There's room in the game for more LLMsSam Altman's OpenAI has been at the forefront of the generative AI revolution. Other vector database startups including Chorma and Weaviate have also raised millions from VCs.

Persons: —, Siri, Warby Parker, Matt Murphy, OpenAI, AI's, Murphy, Tim Tully, Tully —, Sana, Lindy, we've, Tully, Sam Altman's OpenAI, it's Organizations: Service, Valley's, Menlo Ventures, Business, Menlo, Cisco, Oracle, Meta, Google Locations: Snowflake, Anthropic

☆ EV boat maker Arc debuts a premium wake sport model for $258,000
▼ + stars: | 2024-02-21 | by ( Lora Kolodny | In Lorakolodny | ) www.cnbc.com time to read: +3 min

Arc Boat Company's fully electric Arc Sport model gets four to six hours of typical use on a single charge. Arc Boat Company began sales of its second electric boat model in just three years this week. The new $258,000 Arc Sport was designed for wake sports enthusiasts and follows the company's earlier Arc One, a limited-edition luxury cruiser. The 23-foot Arc Sport can carry up to 15 people at a time. Arc plans to begin deliveries of its new battery electric Arc Sport to customers this year.

Persons: Mitch Lee, Ryan Cook, Arc, Kevin Durant, Klay Thompson, Will Smith, Andreessen Horowitz, Lee, Rivian Organizations: Boat Company, GM, Sacramento –, SpaceX, EV, Eclipse Ventures, Menlo Ventures Locations: Malibu, Stockholm, Sacramento – San Joaquin, Stockton , California, Lyft, Brunswick, MarineMax

☆ Inside the Funding Frenzy at Anthropic, One of A.I.’s Hottest Start-Ups
▼ + stars: | 2024-02-20 | by ( Erin Griffith | Cade Metz | ) www.nytimes.com time to read: 1 min

Last May, Anthropic, one of the world’s hottest artificial intelligence start-ups, raised $450 million from investors including Google and Salesforce. By August, Anthropic had landed $100 million from two Asian telecoms. Then Amazon committed $4 billion to it, followed by $2 billion more from Google. This month, the venture capital firm Menlo Ventures closed a deal to invest $750 million in Anthropic. Its five funding deals stood out not just for their speed and size, but for their unusual structures.

Persons: Anthropic Organizations: Google, Menlo Ventures Locations: Anthropic

☆ Meet the OpenAI mafia: These 19 former employees left the AI juggernaut and founded startups that have collectively raised nearly $8 billion
▼ + stars: | 2024-01-22 | by ( Samantha Stokes | Riddhi Kanetkar | Darius Rafieyan | ) www.businessinsider.com time to read: +3 min

☆ OpenAI shakeup drama: What you need to know
▼ + stars: | 2023-11-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailOpenAI shakeup drama: What you need to knowSteve Sloane, partner at Menlo Ventures, and CNBC's Steve Kovach join 'The Exchange' to discuss whether Sam Altman will go to Microsoft or OpenAI, Anthropic's relationship with OpenAI, and more.

Persons: Steve Sloane, Steve Kovach, Sam Altman, OpenAI Organizations: Menlo Ventures, Microsoft

☆ AMD to acquire AI software startup as it seeks to catch up with Nvidia
▼ + stars: | 2023-10-10 | by ( Hayden Field | ) www.cnbc.com time to read: +2 min

Advanced Micro Devices announced Tuesday it will acquire Nod.AI, an open-source artificial intelligence software startup, to expand the chipmaker's AI software operations. Nod.AI, or Nod Labs, builds open-source technologies "for future AI systems," according to the startup, and it mainly specializes in reinforcement learning, a type of system that "learns" via trial and error. During the same period, AMD reported a revenue decline of 18% but still beat analysts' estimates for sales and profit. Prior to founding Nod in 2013, Anush Elangovan, the startup's CEO, was part of the first Chromebooks team at Google and a lead engineer at Cisco. AMD and Nod.AI did not respond to CNBC's request for comment.

Persons: Boppana, Anush Elangovan, Harsh Menon, Nod's, Kitty Hawk, Larry Page Organizations: Micro Devices, Nod, Nvidia, AMD, Nod.ai, Google, Cisco, Nod Labs, Bluetooth, Menlo Ventures, Sequoia Capital, Apple, Samsung

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