Krystal Hu

AI startup Vast Data has signed a $1.17 billion commercial agreement with cloud provider CoreWeave, extending their existing partnership as demand for infrastructure that powers artificial intelligence systems grows, the company told Reuters.

This was originally published in the Artificial Intelligencer newsletter, which is issued every Wednesday. Sign up here to learn about the latest breakthroughs in AI and tech.

(This was originally published in the Artificial Intelligencer newsletter, which is issued every Wednesday. Sign up here to learn about the latest breakthroughs in AI and tech.)

AI startup Lila Sciences has raised $115 million in an extension funding round from investors including Nvidia's venture arm, lifting its valuation to more than $1.3 billion, the company told Reuters.

Data startups Fivetran and dbt Labs will merge in an all-stock deal, creating a combined data infrastructure company with nearly $600 million in annual revenue, the two companies told Reuters.

This follows a deal in which current and former employees sold roughly $6.6 billion worth of shares, a source told Reuters.

Artificial intelligence (AI) startup DualEntry has raised $90 million in a Series A round led by Lightspeed Venture Partners and Khosla Ventures to take on established enterprise resource planning (ERP) software providers, the company said.

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AI cloud provider CoreWeave has expanded its partnership with OpenAI in a new deal worth up to $6.5 billion, bringing the total value of their agreements to $22.4 billion, the latest in a series of billion-dollar deals OpenAI has signed to secure computational power.

AI startup Modular said on Wednesday it raised $250 million in a funding round valuing it at $1.6 billion, as it aims to challenge Nvidia's software stranglehold on the AI computing market.

SoftBank Group will lay off nearly 20% of its Vision Fund team globally as it shifts resources to founder Masayoshi Son’s large-scale artificial intelligence bets in the United States, according to a memo seen by Reuters and a source familiar with the plan.

Microsoft and OpenAI said on Thursday they have signed a non-binding deal for new relationship terms that would allow OpenAI to proceed to restructure itself into a for-profit company, marking a new phase of the most high-profile partnerships to fund the ChatGPT frenzy.

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This was originally published in the Artificial Intelligencer newsletter, which is issued every Wednesday. Sign up here to learn about the latest breakthroughs in AI and tech.

ByteDance, the owner of short-video app TikTok, is set to launch a new employee share buyback that will value the Chinese technology giant at more than $330 billion, driven by continued revenue growth, said three people with knowledge of the matter.

Analytics firm Databricks said on Tuesday its valuation was set to jump 61% to more than $100 billion in a funding round less than a year after its last, underscoring strong investor demand for artificial intelligence startups.

Databricks will acquire machine learning startup Tecton to expand its AI agent offerings, the latest in a string of deals aimed at offering full-scale AI building tools for enterprise customers, its chief executive told Reuters on Friday.

FieldAI, which develops systems for robots to operate safely in industrial environments, has raised $314 million in a new funding round, quadrupling its valuation, sources with knowledge of the matter said.