05/24/2023
📊 Who rules AI tech market?
While the rest of venture capital declines, the AI sector has boomed. According to Crunchbase data, companies tagged with AI accounted for 19% of investment dollars in Q1 2023.
E-commerce, blockchain and cryptocurrency are all down. But money still pours into generative AI – chatbots, virtual assistants, and voicebots captured 57.8% of VC investments in natural language interfaces in 2022, says PitchBook.
Here are the most disruptive private companies in the field:
🤖 OpenAI
Funding: $11.3B.
Latest funding round: Jan 2023, $10B from Microsoft.
Valuation: $30B.
Famous investors: Microsoft, a16z, Founders Fund, Sequoia, Tiger Global, Thrive Capital.
OpenAI has developed the acclaimed ChatGPT, DALL-E which generates images from natural language descriptions, and Codex which translates natural language into code.
🅰️ Anthropic
Funding: $1.3B
Latest funding round: Mar 2023, $300M.
Valuation: $4.1B.
Famous investors: Spark Capital, Google, Skype co-founder Jaan Tallinn (led the first round), Dustin Moskovitz, the Center for Emerging Risk Research.
In March, Anthropic launched an AI assistant called Claude that serves as a foundational model for Amazon's Bedrock. Claude-next, expected within the next 18 months, will be ten times more powerful than existing AI models.
📐 Scale AI
Funding: $602.6M.
Latest funding round: Apr 2021, $325M.
Valuation: $7.4B.
Famous investors: Index Ventures, Y Combinator, Wellington Management.
Scale AI is a crucial data provider for training generative AI models.
👁🗨 Adept AI
Funding: $460M.
Latest funding round: Mar 2022, $350M.
Valuation: $1B.
Famous investors: General Catalyst, NVIDIA, Microsoft.
Adept AI has developed a general-purpose AI model called ACT. It can do your clicking, searching, typing, and scrolling for you. For example, operate an Internet browser and fill out spreadsheets.
🌐 Cohere
Funding: $415M.
Latest funding round: May 2023, $250M.
Valuation: $2B.
Famous investors: Salesforce, Tiger Global, Index Ventures.
Cohere offers a backend toolkit that will enable developers to easily access the latest generation of large language models.
💠 Anyscale
Funding: $260M
Latest funding round: Aug 2022, $100M.
Valuation: $1B.
Famous investors: Addition, Intel Capital, a16z.
Anyscale accelerates the development and productionization of any AI app, on any cloud, at any scale.
🤗 Hugging Face
Funding: $160M.
Latest funding round: May 2022, $100M.
Valuation: $2B.
Famous investors: Sequoia Capital, SV Angel, Lux Capital, Kevin Durant, Oliver Pomel.
Hugging Face is building GitHub-style machine learning resource library. Microsoft, Bloomberg and Grammarly are paying clients.
🌳 Stability AI
Funding: $100M.
Latest funding round: Oct 2022, $100M.
Valuation: $1B.
Famous investors: Lightspeed Ventures, Coatue.
Stability AI has created Stable Diffusion, an open-source powerful generative model which creates images based on text input. It also serves as a foundational model for Amazon's Bedrock.
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