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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
Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . What's on deck:Markets: The Wall Streeters advising Trump's transition team on key economic appointments . But regulators launched investigations and filed lawsuits against Big Tech during Trump's first term. News briefTop headlinesAdvertisement3 things in marketsChip Somodevilla/Getty Images; Getty; Rebecca Zisser/BIWho Trump is turning to on Wall Street for advice.
Persons: , Drew Brees, Donald Trump's, Elon, Jenny Chang, Rodriguez, Donald Trump, Elon Musk, Trump, Samantha Stokes, Riddhi Kanetkar, Helen Li, Biden, Lina Khan's, Money, Chip Somodevilla, Meta's Mark Zuckerberg, JD Vance, Khan, Zuckerberg, Amazon's Jeff Bezos, OpenAI's Sam Altman, Somodevilla, Rebecca Zisser, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Blackstone, Steve Schwarzman, Charles Schwab, Herb Sutter, Ken Griffin's, Sutter, he's, Jordan Strauss, Elon Musk's, Reddit, Lebaredian, Chelsea Jia Feng, Kamala Harris, it's, Dan DeFrancesco, Grace Lett, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Super Bowl, Tech, Trump, Microsoft, Nvidia, Big Tech, Wall, Citadel Securities, White, BI, Google, Veterans, World Meteorological Organization Locations: States, Anthropic, Reddit's, New York City, State, Azerbaijan, New York, Chicago, London
AdvertisementSome venture capitalists expect US President Donald Trump to dial back regulation, potentially making it easier to develop new technologies and do business in Silicon Valley. Related VideoWhile many in Silicon Valley dislike Trump, many VCs and startup founders crave more freedom to pursue riskier new technologies unburdened by regulation. E-acc," referring to the recent Silicon Valley movement that wants technological advancements in AI to move as fast as possible, without any guardrails. Regulation has held Silicon Valley back in recent yearsVCs during Biden's presidency have complained about how tough it's been to get deals done. AdvertisementVCs anticipate an innovation boomAmerica is a country of entrepreneurs, and that's especially true in Silicon Valley.
Persons: , Donald Trump, Elon, Ben Narasin, we've, Trump, Musk, cheekily, Vance, Augustus Doricko, Kamala Harris, Aaron Levie, Harris, Mark Pincus, Biden's, Louis Lehot, Foley, Lardner, Lina Khan —, it's, Biden, JD Vance, Khan, Mason Angel, who's, he's, Narasin, Ben Thompson, Rainmaker's Doricko, Angel Organizations: Service, Elon, Venture, White, Department of Government, Zynga, acc, Google, Microsoft, Nvidia, Federal Trade Commission, Department of Justice, Trump, Republican, Big Tech, FTC, SpaceX, Space Force Locations: Silicon Valley, Silicon
While many Silicon Valley VCs and founders aren't huge Trump fans, their industry thrives when startups are getting acquired or going public quickly. The Biden administration clamped down heavily on tech M&A, so Trump's win could be a financial boon for the sector. Stephen Hays, the founder and managing partner of What if Ventures, said money is already moving again. AdvertisementBig Tech returns to the tableAs president, Trump could roll back some of the antitrust policies that his opponent would have continued. "People are keeping to themselves and just getting on with their business," said Conrad Burke, a managing partner of MetaVC Partners.
Persons: Kamala Harris, Reid Hoffman, Laurene Powell, Vinod Khosla, Harris, Donald Trump's, aren't, Biden, There's, Jordan Nof, Stephen Hays, Trump, Elon, Lina Khan's, Lulu Cheng Meservey, Y, Lina Khan, Kevin Dietsch, Brandon Brooks, — Trump's, JD Vance —, Chris Farmer, Mason Angel, Louis Lehlot, Lardner, Michael Greeley, Crypto, hasn't, Gary Gensler, Bitcoin, Brian Garrett, Garrett, Jenny Fielding's, Fielding, Conrad Burke, Leslie Feinzaig, bundlers, Kamala, I've Organizations: Democrat, White House, Trump, Tusk Venture Partners, Ventures, Tech, Federal Trade, Investors, Foley, Big Tech, Markets, Flare Capital, Biden, SEC, Crosscut Ventures, Google, Microsoft, MetaVC Partners Locations: Europe
But others building startups report facing various gender-related obstacles to success, including bias in the fundraising process, limited mentorship opportunities, and difficulty building meaningful business relationships with men. And recent data from the UK shows that only about 4% of AI startups in the country have women founders. Developing relationships with other women working in the AI space has become a vital lifeline, she said. There were plenty of women interested in building AI companies, she said. AdvertisementThis observation was the catalyst for the Female Founder Circles, a community for women engineers interested in building AI startups.
Persons: Saumya Bhatnagar, Bhatnagar isn't, Fei Fei Li, Daniela Amodei, Mira Murati, it's, Bhatnagar, she's, I'm, Vivien Ho, Ho, they're, Forbes, Rejpal, Rajpal, Stephanie Guo, Guo Organizations: Deloitte, Bay Area, FFC, Pear, Zetta Venture Partners, Bloomberg Beta, GitHub, Sapphire Ventures Locations: Bay, San Francisco
BI has compiled a list of which AI robotics startups Bezos has backed so far, per PitchBook. Physical Intelligence is at least the third spatial intelligence startup Bezos has backed this year, according to PitchBook. Related storiesFigure AIFigure AI builds AI robots that can take over unsafe jobs from humans. Bezos invested in an undisclosed funding round in 2021, while Bezos Expeditions invested in its $24 million Series A funding round in 2020. Bezos Expeditions invested in the startup's $30 million Series E in 2017, $40 million Series D in 2015, $30 million Series C in 2012, $20 million Series B in 2010, $7 million Series A1 in 2009, and $5 million Series A in 2008.
Persons: Jeff Bezos, , Andreessen Horowitz, Bezos, OpenAI Organizations: Service, Khosla Ventures, Intelligence, The New York Times, Bezos Expeditions, New York Times, Sentinel, HAHN Group
Elon Musk's xAI is raising fresh funding at a $40 billion valuation, the WSJ reported. Social media network X, meanwhile, is currently valued at $9.4 billion, according to Fidelity filings. AdvertisementA new funding round in the works for xAI could value Elon Musk's startup at more than four times what his social media network, X, is currently worth, according to recent Fidelity filings. The AI startup is reportedly in talks to raise funding at a $40 billion valuation, according to the Wall Street Journal. Assuming the investment was made at X's $44 billion valuation, the fund now estimates X's value to be around $9.4 billion.
Persons: Elon Musk's, , Musk, ChatGPT, That's Organizations: Social, Fidelity, Service, Elon, Wall Street, Sequoia Capital, Growth Locations: a16z, xAI
The startup offers marketing analytics tools to help brands boost their SEO on LLMs like ChatGPT. Check out the 17-slide pitch deck Evertune used to raise its $4 million seed funding round. The startup, Evertune, launched from stealth today with $4 million in seed funding, it confirmed exclusively to Business Insider. AdvertisementAt Evertune, Stempeck said that he and his co-founders, Ed Chater and Poul Costinsky, are focusing on being the leader in intersection between advertising and AI. Check out the 17-slide pitch deck Evertune used to raise its $4 million seed funding round.
Persons: Evertune, Roger Ehrenberg, , OpenAI's ChatGPT, Google's, Anthropic's Claude, Brian Stempeck, Evertune's, Stempeck —, LLMs, Stempeck, Ed Chater, Poul Costinsky Organizations: Eniac Ventures, Nextview, Service, Business, New York VC, NextView Ventures, Aperiam Ventures
Two of the firm's big funds valued their OpenAI stock at more than $100 million, according to new filings. AdvertisementTwo of Fidelity's biggest funds have stakes in OpenAI that the mutual fund giant valued at more than $100 million in total, according to filings on Wednesday. According to the Contrafund's monthly report, which was published on October 30 and includes financial information for the month of September, Fidelity valued those OpenAI shares at $74,801,903. AdvertisementIt was not immediately clear how many OpenAI shares Fidelity owns in total. Representatives for OpenAI and Fidelity did not immediately respond to requests for comment.
Persons: Fidelity, Organizations: Fidelity, Service, Growth, OpenAI Locations: OpenAI
Several big Fidelity funds valued their OpenAI stock in new filings on Wednesday. AdvertisementSeveral big Fidelity funds have stakes in OpenAI that the mutual fund giant valued at more than $100 million in total, according to filings on Wednesday. According to the Contrafund's monthly report, which was published on October 30 and includes financial information for the month of September, Fidelity valued those OpenAI shares at $74,801,903. The Blue Chip Growth fund's filing valued that stake at $29,421,124; the Growth Discovery Fund valued that stake at $3,433,000; the Capital Appreciation Fund valued that stake at $3,900,800; and the Stock Selector All Cap Fund valued that stake at $580,570. It was not immediately clear how many OpenAI shares Fidelity owns in total.
Persons: Fidelity, , Sam Bankman, OpenAI Organizations: Fidelity, Service, Growth, Discovery Fund, Fund Locations: OpenAI
AI startup Attention raised a $14 million Series A funding round from Alven, Eniac, and Frst. The startup uses AI and natural language processing to glean data and next steps from sales calls. AdvertisementNew York-based AI startup Attention, which uses natural language processing to fill out customer relationship management (CRM) programs and generate action items from sales calls, just raised a fresh round of funding. Late-stage startup Gong, which also records sales calls, raised $250 million in Series E funding in 2021 at a $7.25 billion valuation. And 11x.ai, which is building AI sales reps, raised a $50 million Series B last month from a16z, TechCrunch reported.
Persons: , Anis Bennaceur, Matthias Wickenburg, Bennaceur, Wickenburg, Swipecast Organizations: Service, French VC, Eniac, Liquid2 Ventures, Ventures, TechCrunch Locations: Alven, New York, a16z
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
Insider is putting together a list of the best up-and-coming venture capitalists of 2024. Go to newsletter preferences Thanks for signing up! AdvertisementWe are seeking nominations for Insider's yearly list of rising stars of venture capital, and we want to hear from you. We're looking for US-based venture capitalists who are working hard to find and fund the next big startups. In the past, we've had people with various roles and experiences from VC funds like Founders Fund, Greylock Partners, Lightspeed Venture Partners, Tiger Global, and Spark Capital.
Persons: , we've Organizations: Service, Founders, Greylock Partners, Lightspeed Venture Partners, Tiger Global, Spark
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,
Business Insider asked 27 venture-capital investors to nominate the most promising fintechs. VCs highlighted startups that haven't raised beyond a Series C.Here are the 49 most promising fintechs. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Business Insider asked 27 top investors — including Index Ventures, QED Investors, and Bain Capital Ventures — to name some of those diamonds in the rough. Check out the 49 startups identified as most promising by 27 top investors.
Persons: , fintechs Organizations: Service, Business, Index Ventures, Bain Capital Ventures
Reducto raised $8.4 million in seed funding to develop AI for reading complex documents. AdvertisementLarge language models struggle to parse data in PDFs and spreadsheets, and one startup just raised a supersized seed funding round to build tech that can read these documents the way humans do. Reducto, which was founded in 2023 and a member of Y Combinator's winter 2024 batch, is announcing it raised $8.4 million in a seed funding round led by First Round Capital. One, Humata AI, raised $3.5 million from Google's Gradient Ventures a year ago, while OpenAI's ChatGPT Store showcases multiple AI PDF developers. AdvertisementCheck out the 13-slide pitch deck Reducto used to raise $8.4 million in seed funding.
Persons: Reducto, , Y, Liquid2, Arash Ferdowsi, Andrew Ofstad, Kulveer Taggar, Zeus, JJ Fliegelman, Richard Aberman, Ralph Goottee, Tracy Young, Adit Abraham Organizations: Service, First Round, Big Tech
A San Francisco venture firm developed a proprietary model it calls "moneyball for venture capital." The firm is revealing 19 exceptional female investors with a keen eye for identifying future unicorns. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . It developed a proprietary model it calls "Moneyball for venture capital" that uses AI to predict which early-stage startups are most likely to become unicorns, which are companies valued at more than a billion dollars.
Persons: , Fred Campbell, Joseph Aaron, Scott Pyne, Steve Marek, Dick Fredericks Organizations: US, Service, Business Locations: San Francisco
StackGen raised $12.3 million in seed funding led by Thomvest Ventures. The startup uses AI to auto-generate infrastructure from code, boosting developer efficiency. Generative AI is transforming software engineering, with many startups securing large seed rounds. AdvertisementGenerative AI is giving software engineering a massive boost, and one startup just raised a supersized seed round for its tech that uses code to create generative infrastructure. The startup, formerly known as appCD, rebranded to StackGen and raised a $12.3 million seed funding round led by Thomvest Ventures.
Persons: StackGen, Organizations: Thomvest Ventures, Service, StackGen, FireBolt Ventures, WestWave, Business
The startup, Smartcat, just raised $43 million in Series C funding led by New York-based VC firm Left Lane Capital with Lead Edge Capital also participating. Smartcat previously raised a $4.5 million seed round in 2017, a $7 million Series A in 2018, and a $15 million Series B in 2020, according to PitchBook data. VC investment in AI startups is continuing to go gangbusters, topping out at a whopping $24 billion in the second quarter of 2024 — the biggest quarter for AI funding in recent years, according to Crunchbase. AdvertisementWhile some consumer and healthcare AI startups have raised eye-popping rounds, the tech is creating plenty of opportunities in the B2B space. Check out the six-slide presentation Smartcat used to raise $43 million in Series C funding.
Persons: , Smartcat, Ivan Smolnikov, Smolnikov Organizations: Service, Left Lane, Lead Edge Capital, Marbruck Investments, Chrome, Business Locations: New York, Koro, Smartcat
The startup, Cavela, launched from stealth today with $2 million in seed funding, Business Insider has learned. This story is available exclusively to Business Insider subscribers. The process becomes even more time-consuming as companies speak with multiple suppliers in order to find the best partner to complete a specific project. Sardain's family works in manufacturing, and he grew up living in multiple manufacturing hubs across Asia and Latin America, including Malaysia, Hong Kong, Thailand, Singapore, and Mexico. For Cavela, the startup closed its $2 million seed round without using a traditional pitch deck.
Persons: , Anthony Sardain, Sardain, we've Organizations: Service, Business, XYZ Ventures, Ventures, Go Global Ventures, Tierra, Google, Bright Machines Locations: Asia, Latin America, Malaysia, Hong Kong, Thailand, Singapore, Mexico, America, San Francisco, Fransisco
Abridge: AI transcription for doctors and providersMarisa Bass (left) is a principal at Primary, and Shravan Narayen is a partner at IVP. Primary; IVPStartup: AbridgeRecommended by: Marisa Bass, Primary Venture Partners; Shravan Narayen, IVPRelationship: Primary has no financial interest in Abridge. IVP is an investor in Abridge. Total funding: $212.5 millionWhat it does: Abridge's generative AI tech transcribes patient-doctor interactions and documents those visits in electronic health records. Narayen and Bass highlighted Abridge's partnership with EHR giant Epic, which could help the startup gain more traction with hospitals this year.
Persons: Marisa Bass, Shravan, Abridge, Bass Organizations: IVP, Primary Venture Partners Locations: Abridge
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
Skyfire Systems just launched out of stealth and raised $8.5 million in seed funding. The startup lets AI agents make autonomous purchases on behalf of their users. Check out an exclusive look at the pitch deck the startup used to raise its seed funding round. A new startup is now tackling the next frontier in the space: using AI to make purchases on a user's behalf. The startup, Skyfire Systems, just emerged from stealth with $8.5 million in seed funding from financial firms Neuberger Berman, DRW, and Brevan Howard Digital.
Persons: , Neuberger Berman, DRW, Brevan Howard, Draper, Ripple Organizations: Skyfire Systems, Service, Arrington Capital, RedBeard Ventures, Crossbeam Venture Partners, Inception, Draper Associates, ARCA, Business Locations: Silicon Valley, EveryRealm
Read previewJennifer Li didn't know from the get-go that she was interested in computer science and software engineering. AdvertisementIn school, Li made the unusual jump from business to computer science. Related storiesShe studied technology commercialization and management at Rensselaer Polytechnic Institute, a well-known science and engineering school in upstate New York, and later earned another master's degree at Carnegie Mellon University in computer science. Both of her parents are engineers, and Li said that she began exploring the world of computer science and engineering to satisfy a curiosity of how things are created. Computer science helped with that system of thinking."
Persons: , Jennifer Li didn't, Andreessen Horowitz, Marc Andreessen, Ben Horowitz, Li, she's, Kleiner Perkins, Mamoon Hamid, Andy Chen, Asheem, chatted, we're, that's Organizations: Service, Business, Silicon Graphics, Shanghai University of Finance, Economics, Rensselaer Polytechnic Institute, Carnegie Mellon University, Cisco, Zoom, a16z Locations: a16z, China, New York, San Francisco, AppDynamics, Solvvy
We asked top venture capitalists to name the most promising US startups so far in 2024. VCs named portfolio companies as well as startups that they have no financial ties to. Go to newsletter preferences Thanks for signing up! download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere's an adage in venture capital that great companies are born out of hard times.
Persons: VCs, , Uber Organizations: Service, Business
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