Despite losing two of its co-founders and struggling to bring a product to market, Adept has managed to raise over $415 million in capital and reach a valuation of around $1 billion. The startup's technology will support Amazon's generative AI ambitions, with Adept's CEO, David Luan, set to work under Rohit Prasad, the former head of Alexa. The move could potentially help Adept compete in the crowded AI agents market, estimated to be worth $4.2 billion in 2022.
Key takeaways:
- Adept, an AI startup, has agreed to license its technology to Amazon, with several of its co-founders and team members joining the ecommerce giant.
- Zach Brock, head of engineering, will take over as CEO of Adept, which will continue to focus on "solutions that enable agentic AI".
- The deal provides a lifeline for Adept, which has been in talks with Meta and Microsoft about a potential acquisition and has struggled to bring any product to market.
- Amazon's acquisition of Adept's tech and talent will bolster its generative AI ambitions, with Adept's CEO David Luan set to work under Rohit Prasad, the former Alexa head who’s leading a new AGI team focused on building large language models.