Communications of the ACM
'Let 1,000 Flowers Bloom': A.I. Funding Frenzy Escalates
The funding race has heated up for start-ups working on “generative” artificial intelligence.
Credit: Anton Petrus/Getty Images
When four leading artificial intelligence researchers left Google this year to create a start-up called Mobius AI, they weren't sure what their product might be — just that it would involve A.I. technology that could generate its own photos and videos.
Within about a week, two of Silicon Valley's top venture capital firms, Andreessen Horowitz and Index Ventures, had swooped in with a funding offer, three people with knowledge of the matter said.
Suddenly, Mobius — little more than more than four guys and a laptop — was valued around $100 million, an usually high number for a start-up that was just a week or so old, the people said. When word of the deal leaked out, other investors descended to urge Mobius to take their money, too, they said.
From The New York Times
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