- The round was led by Microsoft and Nvidia
- Also joined by three tech billionaires
- The company is working on the creation of “personal” AI
- It is supposed to be a virtual assistant available to everyone
Apparently, the trend of AI in the global market continues to gain momentum. The startup behind the Pi chatbot, Inflection AI, has raised a total of $1.5 billion in funding. The market value of the company was $4 billion.
Forbes was the first to announce the completion of the global investment round. Then information confirmed in Inflection AI. The total amount of funds raised amounted to $1.525 billion.
Capital in the startup was invested by Nvidia, Microsoft, as well as three billionaires – Reid Hoffman (Linkedin), Bill Gates (Microsoft) and Eric Schmidt (Google). It is noteworthy that only Nvidia became a new partner, while everyone else already took part in the previous, “seed” round.
Company CEO Mustafa Suleiman noted that the money will be used to further develop the Pi chatbot. This is how he commented on this product:
“Personalized AI will be the most revolutionary tool in our lives. This is a turning point. We are excited to partner with Microsoft, Nvidia, Bill and Eric, and many others to bring this vision to life.”
Interestingly, Suleiman remained the majority shareholder. That is, the round did not “blur” his share.
Inflection AI was launched in 2022. Its product, the Pi chatbot, is billed as a “personal assistant.” The company strives to create a universal tool available to the user at the household level.
It will be an AI that you can install yourself, as simply and quickly as possible. It is also assumed that this model will come out more “human”. But how far the development has progressed is still unknown. Despite the fact that AI has caused a real boom in the venture capital market, there are quite a few opponents of this technology. These include, for example, Elon Musk, which, however, does not prevent him from making money in a promising segment.