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In Machines we Trust

AI Investment Boom: Scaling Ventures, Anthropic's Growth, and Abridge's Expansion

In Machines we Trust

In Machines we Trust

Technology

00 Ratings

🗓️ 24 February 2024

⏱️ 7 minutes

🧾️ Download transcript

Summary

In this episode, we delve into the recent surge in AI venture deals, highlighting the significant scaling of investments in innovative firms like Anthropic and Abridge. We explore how this influx of capital is driving advancements in AI technology and expanding the capabilities and reach of these pioneering companies.


Transcript

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0:00.0

For a very small second earlier this year, it looked like venture capitalists and their insatiable

0:07.2

hunger to invest in AI startups was starting to slow down because of, you know, really high

0:12.1

prices and a lot of competition from companies like Google and some of the big players.

0:16.6

But in recent weeks, we've seen investors really pick up their enthusiasm the same as they had last year.

0:24.6

And startups are looking to really capitalize on that and are starting to raise larger amounts of money.

0:29.7

So today on the podcast, I'll be covering everything that I am seen in startup land, specifically for AI startups and fundraising.

0:36.8

And I want to mention that my own startup,

0:39.6

AI box, is currently fundraising. There are three days left in our crowdfunding campaign,

0:46.4

and we're raising money on Republic. So if you're interested, I'll leave a link in the show

0:50.5

notes to Republic, where you can check out our campaign. We've raised over $300,000 on Republic and $100,000 off to create a no-code AI app builder

1:00.3

and marketplace that I believe is going to completely revolutionize the way people use and

1:06.2

automate tasks with AI tools.

1:08.2

So I'm super excited about that, And I'll leave a link in the description

1:11.2

so you can check out our project, what we're doing, and how much we have raised. But let's get

1:15.7

into the episode. So the important thing here to know is that we have a couple big players. We

1:21.8

have scale. We have Anthropic. They're picking up really big venture deals. Scale, which is, of course, kind of known for its image and text labeling services that train AI models, is currently in discussions with investors about raising another round of funding.

1:37.6

Their CEO, Alexander Wang, has reported that they're aiming for a funding round that would value them at around $14 billion.

1:45.1

This is double the valuation that they set three years ago, so this is quite significant.

1:51.0

And I think, you know, the AI search engine startup perplexity has also attracted a bunch of,

1:58.6

I believe, unsolicited offers that value it at over a billion dollars.

2:03.4

This is a really big increase from their valuation just a month earlier. Absolutely phenomenal.

2:09.8

We also have huge corporate giants. We have, you know, we have Qualcomm and Intuit that have

...

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