The article also highlights a trend of tech executives moving into the AI space, with global funding for AI startups reaching nearly $50 billion in 2023. This includes former Twitter board chair Bret Taylor, who was named chairman of the new OpenAI board, and Elon Musk, who has launched his own AI startup. Despite a lackluster overall startup funding environment, AI remains a promising area for new ventures.
Key takeaways:
- Parag Agrawal, former CEO of Twitter, has reportedly raised about $30 million in funding for an AI startup that is building software for developers of large language models.
- Agrawal served as a software engineer, chief technology officer, and CEO at Twitter before being ousted after Elon Musk's acquisition of the company.
- Many tech executives, including Agrawal and Elon Musk, are pivoting to AI as venture capital continues to flow into the space.
- Global funding for AI startups hit nearly $50 billion in 2023, a 9% increase from the previous year, with leading players OpenAI, Anthropic, and Inflection collectively raising $18 billion.