Sanjay Agrawal and Shashank Gupta, who helped co-found the business intelligence company ThoughtSpot, say that several years ago, they observed that organizations were struggling to deal with the increasing amount of data under their purview.
Elle Russell, co-founder of Cairns, Australia-based NightCafe, which offers a suite of AI-powered art-creating tools, prefers to avoid the spotlight.
Magic, an AI startup developing models to generate code and automate a range of software development tasks, says that it’s raised a large tranche of cash from investors including ex-Google CEO Eric Schmidt.
ChatGPT creator OpenAI is reportedly in talks to raise a massive tranche of cash led by previous backer Thrive Capital, at a valuation of more than $100 billion. That’s substantially higher than OpenAI’s previous $86 billion valuation, and by far the highest valuation of any AI startup to date.
EliseAI, a company developing a suite of AI-powered property management tools for landlords, has raised $75 million in a Series D round that values the startup at $1 billion.
In 1996, two companies, Patersons HR and Payroll Solutions, formed a venture called CloudPay to provide payroll and payments services to enterprise clients. CloudPay grew quietly over the next several decades, adding workflow automation features to maintain pace with upstart rivals.
The software supply chain faces threats from all sides. A 2024 report by the Ponemon Institute found that over half of organizations have experienced a software supply chain attack, with 54% having experienced one within the past year.
Canva has acquired Leonardo.ai, a generative AI content and research startup, as the company looks to deepen its investments in its AI tech stack.
Amid the generative AI boom, companies are spending a lot on cloud infrastructure — and they’re concerned about it. According to a 2024 survey from cloud cost monitoring platform CloudZero, less than half of companies think that they have “healthy” cloud costs, with 58% saying their costs are too high.
Investments in generative AI startups — those that are creating AI-powered products to generate text, audio, video and more — aren’t slowing down. But they’re being consolidated into a shrinking number of early-stage ventures.
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