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- π 2 AI Startups raise $6B+
π 2 AI Startups raise $6B+
BONUS: California's AI Law Explained
TODAYβS RECAP ποΈ
xAI raises a $6B Series B β Advanced AI models
Rain AI raises a $8.1M Series A β Cost and energy-efficient AI chips
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TOP PICKS π’
1/2
Amount: $6B π
Valuation: $24B
Round: Series B
Elon Muskβs AI startup, xAI, is creating advanced AI models to compete with OpenAI.
The company's mission is to create AI that is powerful but also aligned with human values and beneficial to society.
Their flagship model, Grok, was released on X in November 2023. Since then, theyβve released an improved Grok-1.5 model with long context capability, Grok-1.5V with image understanding, and open-source Grok-1.
2/2
Amount: $8.1M π
Round: Series A Extension
Lead Investor: Epic Venture Partners
Rain AI is an AI chip startup building cost and energy-efficient hardware for AI.
Their chips have in-memory computing, allowing AI models to operate on devices with limited computational resources.
Notably, the startup is also backed by Sam Altman.
OTHER ROUNDS π€
PITCH DECKS & TOOLS βοΈ
Apriora $2.8M Seed - AI to conduct job interviews
Grasp $1.9M Pre-Seed - AI assistant for financial advisory
Crosby Health $2.2M Seed - Clinical LLM to automate insurance appeals
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BONUS π₯
FOR CURIOUS MINDS
Dove into the "covered model" definitions in SB 1047 (Sec. 3f2). This is absurd.
β¬οΈπ§΅ on why scaling laws mean that virtually *all LLM's could come under govt supervision* by SB 1047 if a well-funded entity decides to train a suboptimal model this year.
β Rohan Pandey (π΄ππ―π±π¦πͺπ’ e/acc) (@khoomeik)
4:21 AM β’ May 26, 2024
THATβS IT FOR TODAY
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