Ex-OpenAI Researcher’s Six-Week-Old Startup Targets Funding at $4 Billion Valuation

<p>Nvidia’s investment spree in startups that use its AI chips has stoked traditional venture capital firms’ interest in those companies. That has paved the way for brand-new startups taking on Anthropic and OpenAI to raise back-to-back funding rounds, sometimes in a matter of weeks.</p> <p>In the latest example, Core Automation, an AI model developer <a href="https://www.theinformation.com/articles/ex-openai-researchers-startup-targets-1-billion-funding-develop-new-type-ai">founded in late March</a> by ex-OpenAI researcher Jerry Tworek, is aiming to raise between $300 million and $500 million at a valuation of around $4 billion, according to people who have spoken to the company’s leaders. The new fundraise comes just weeks after the company raised $100 million at a $1 billion valuation, some of the people said. Nvidia invested in the earlier round, one of the people said.</p>