Sundar Pichai, C.E.O. of Google and Alphabet, speaks in the course of the New York Occasions annual DealBook summit at Jazz at Lincoln Heart on December 04, 2024 in New York Metropolis.
Michael M. Santiago | Getty Photos
Google will start a brand new fund geared toward investing in artificial intelligence startups, the corporate introduced Monday.
By means of a fund it calls the “AI Futures Fund,” eligible startups will get Google funding, early entry to AI fashions, and hands-on support from Google researchers, engineers and go-to-market specialists, the corporate mentioned in a weblog submit on Monday. They may also get credit to make use of on Google Cloud.
“Choose startups get the chance to hunt direct funding from Google to gas development and scale AI growth,” the weblog submit states.
The fund comes as the corporate tries to get extra publicity to the fiscal activities AI firms and tendencies. It additionally comes as sizzling AI startups search alternate funding because the IPO market stays largely dry amid financial woes.
Amazon and Microsoft, OpenAI’s principal investor, are backing generative AI startups with hefty investments in addition to growing their very own applied sciences.
Earlier this 12 months, Google invested greater than $1 billion in generative AI startup Anthropic, which builds on Google’s previous investments of $2 billion in Anthropic and 10% possession stake within the startup, in addition to a big cloud contract between the 2 firms.
The fund will assist founders with Gemini fashions, in line with the applying web page.
“We work carefully with formidable startups throughout all levels to shortly allow groundbreaking 0-to-1 merchandise and options, offering early entry to Google’s superior AI fashions, experience, and potential funding to deliver audacious AI concepts to life,” the fund’s mission reads.