- Foundry Technologies is in talks to raise money at a valuation of $350 million, a significant increase from its previous valuation of $50 million.
- The increase in valuation highlights the trend of hot companies in the AI sector raising money at rapidly escalating valuations.
- Foundry is one of many AI startups that have experienced a meteoric rise in valuation this year.
- The company plans to rent servers to companies for running AI software.
- The risky pandemic-era fundraising trend of rapidly increasing valuations in short periods of time has returned.
Kombai, a startup that utilizes AI to convert UI designs to code for front-end developers, has raised $4.5 million in seed funding and aims to simplify the process of creating unique and efficient user interfaces.
Blockchain network developer Cronos Labs is seeking eight startups to participate in its $100 million accelerator program, with a focus on artificial intelligence and crypto projects that utilize AI for enhanced speed and efficiency.
San Francisco-based AI startup Writer has raised $100 million in a funding round led by Iconiq Growth, bringing its valuation to $500 million, and aims to help businesses use large language models to generate content across different departments.