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One AI startup

One AI startup’s undoing is another’s opportunity.

Case in point: Today, AI21 Labs, a company developing generative AI products along the lines of OpenAI’s GPT-4 and ChatGPT, closed a $53 million extension to its previously announced Series C funding round. The new tranche, which had participation from new investors Intel Capital and Comcast Ventures, brings AI21’s total raised to $336 million.

The startup’s valuation remains unchanged at $1.4 billion.

Ori Goshen, AI21 Labs’ co-founder and CEO, said that the cash infusion will be put toward product development and growing the startup’s headcount. (Perhaps a few of those new hires will come from OpenAI, given the string of departures there — if they don’t jump ship for Microsoft.)

💯🎨😇

 

 

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