Despite predictions of a funding slowdown, the AI industry has remained strong, with over $10 billion invested so far this year. Last week, AI startup Together raised $106 million in a round led by Salesforce Ventures 1, doubling its valuation to $1.25 billion. The Menlo Park, California-based company has developed a cloud platform that allows developers to build on open and custom AI models.
Key takeaways:
- Foundry, a startup developing a public cloud for ML workloads, has raised $80 million in a funding round co-led by Sequoia Capital and Lightspeed Venture Partners, valuing the company at $350 million.
- The company aims to help businesses maximize their existing computing power and address the challenges of AI accelerator compute, which it sees as a critical resource.
- Despite predictions of a funding slowdown, the AI industry has remained strong, with over $10 billion invested so far this year.
- AI startup Together recently raised a $106 million round led by Salesforce Ventures 1, doubling its valuation to $1.25 billion.