OpenAI has opened functions for the second cohort of its six-week program for synthetic intelligence (AI) startups, Converge 2, by which it would make investments $1 million into every of the 15 profitable members chosen.
The group behind ChatGPT introduced that the initiative, accessible worldwide, is geared toward people like engineers, designers, researchers, and product builders using AI for revolutionary functions. OpenAI based the Startup Fund on the concept sturdy AI programs will gasoline a brand new period of groundbreaking startups.
The speedy proliferation of AI instruments and options has ignited assist from trade consultants and traders alike. Generative AI startups have obtained appreciable funding from varied corporations and organizations this 12 months alone.
the openai startup fund launches converge 2: https://t.co/KDzjboxzXa
— Sam Altman (@sama) December 14, 2023
In November 2022, OpenAI initiated the primary part of the Startup Fund to assist aspiring founders and firms creating revolutionary AI merchandise. It offered $1 million in funding to every of the 12 chosen startups from the pool of candidates.
Asserting this system by way of an announcement shared by its CEO, Sam Altman, OpenAI defined the initiative’s background and its impression on AI. The corporate said that the startup fund initiative is OpenAI, doing its half to assist push the boundaries of utilized AI in important domains.
The corporate mentioned the preliminary and last weeks of this system will happen in San Francisco, with OpenAI overlaying journey bills for these weeks. Whereas members can attend different weeks remotely, attending in individual is extremely advisable.
The corporate encourages founders from various backgrounds, no matter their location exterior the US and at any expertise degree, to use. It stresses that prior expertise with AI programs is just not a requirement.
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The appliance interval, which commenced on Dec. 13, 2023, is about to conclude on Jan. 26, 2024.
Kasikornbank (KBank), a personal financial institution in Thailand, launched a major fund of $100 million, named KXVC, to put money into synthetic intelligence (AI), Web3, and deep tech startups, particularly concentrating on the Asia-Pacific (APAC) area.
Mistral AI, a French AI startup, disclosed a funding achievement of $415 million in its funding spherical, which concluded on Dec. 1, to advance its expertise and open-source software program. The funding spherical was spearheaded by Andreessen Horowitz, together with assist from the startup’s unique backers, Lightspeed Ventures.
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