🔥 AI Investment Roundup: OpenAI, SoftBank, Robotics
Stefano Guidi / Getty Images

🔥 AI Investment Roundup: OpenAI, SoftBank, Robotics

Welcome to this week's AI investment news roundup! 

This newsletter highlights some of the most exciting developments in the field, showcasing how these innovations could shape the future of technology and its impact on our daily lives.

Let’s start!


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OpenAI and SoftBank Commit $19B Each to Stargate

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OpenAI and SoftBank are reportedly investing a substantial amount of capital into Stargate, an ambitious infrastructure project aimed at building data centers across the U.S. to support OpenAI's AI workloads. According to The Information, both companies plan to commit $19 billion each, giving them a 40% stake in the joint venture. 

This massive investment is part of a larger plan to funnel upwards of $500 billion into data centers, with initial pledges totaling $100 billion. One of these facilities is already under development in Abilene, Texas.

Elon Musk, who owns xAI, a company that competes with OpenAI, took to social media to claim that Stargate "doesn't actually have the money." In response, Sam Altman, CEO of OpenAI, posted his own statement, dismissing Musk’s assertion as "wrong." Stargate has also garnered interest from Middle East AI fund MGX, indicating strong backing from multiple investors.


SoftBank Negotiates $500M Investment in SkildAI

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SoftBank is currently negotiating a $500 million investment in Skild AI, a robotics software company valued at $4 billion. Skild AI focuses on creating foundational models for robotics, which can be adapted for various types of robots and specific use cases. 

The two-year-old company previously raised $300 million at a $1.5 billion valuation, attracting investments from notable figures like Jeff Bezos and firms such as Lightspeed Venture Partners and Coatue Management.

The intersection of AI and robotics has seen increased investor interest, with other startups like Physical Intelligence and Figure AI raising substantial amounts. Physical Intelligence secured $400 million at a $2 billion pre-money valuation, while Figure AI, a humanoid robot developer, raised $675 million from Microsoft, Nvidia, and Jeff Bezos, among others.


Reid Hoffman's Manas AI Secures $24.6M for Drug Discovery

David Paul Morris/Bloomberg / Getty Images

LinkedIn founder Reid Hoffman and cancer researcher Siddhartha Mukherjee have co-founded Manas AI, an AI-powered drug discovery startup focusing initially on breast cancer, prostate cancer, and lymphoma. The company has raised $24.6 million in seed funding from Hoffman, General Catalyst, and Greylock. While this amount is significantly lower than some competitors, such as Xaira ($1 billion) and Treeline Biosciences ($422 million), Manas AI aims to design molecules using AI and test them in a wet lab.

Manas AI will leverage Microsoft's cloud computing platform, Azure, and its deep domain knowledge in AI to develop novel medicines. Hoffman's ties to Microsoft, which acquired LinkedIn in 2016, underscore the strategic partnership between the two entities.


Quibim Raises $50M for AI Medical Imaging Models

Tom Werner / Getty Images

Quibim, a Spanish startup specializing in AI models for medical imaging, has raised $50 million in a Series A funding round. The company aims to enhance diagnostic accuracy and disease detection using AI models applied to X-rays, CT scans, and MRIs. Its flagship product, QP-Prostate, improves prostate cancer detection, and additional products targeting brain, liver, breast, and lung conditions are in development.

Quibim also offers QP-Insights for processing multi-omics data, useful in clinical trials. The company's long-term goal is to create digital twins of the human body, starting at the organ and lesion level. With FDA 510(k) clearance for QP-Prostate and partnerships with institutions like Stanford University and Mass General Brigham, Quibim plans to expand its presence in the U.S. 

The Series A round was led by Asabys and Buenavista, with participation from Amadeus Capital Partners, Apex Ventures, Partech, and Tony Fadell.

Quibim CEO Ángel Alberich-Bayarri emphasized the importance of turning imaging into a catalyst for precision health, noting that global expansion into the U.S. is a critical milestone for the company's mission.


Retro Biosciences Raises $1 Billion to Extend Human Lifespan

Eugene Gologursky/The New York Times / Getty Images

Sam Altman, CEO of OpenAI, is making significant strides in longevity research through Retro Biosciences, a San Francisco-based biotech startup. The company aims to extend human lifespan by up to 10 years beyond what it considers a healthy lifespan. Altman previously provided the entire seed round of $180 million for Retro Biosciences, and now the startup is raising a $1 billion Series A, which Altman is also joining.

Retro Biosciences plans to launch trials for drugs targeting diseases like Alzheimer's and recently trained a model with OpenAI to convert regular cells into stem cells. CEO Joe Betts-LaCroix expressed urgency in discovering and developing a drug within this decade. 

The startup is among several major efforts funded by billionaires, such as Altos Labs (backed by Jeff Bezos) and Unity Biotechnology (supported by Bezos and Peter Thiel).


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Astrid Altensen

Senior Marketing Manager @Dreso

4h

Exciting news!

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Jose Sabater

Marketing Strategy Promotion, Innovador, Domain Investor Owner of: Thearvr.com, Theabbr.com, FintechInsurtech.com, AgriUnitedStates.com, LeasingStocks.com, 5GSelf-Driving.com, Make worthy offers!

9h

I've known about AI long before most of you. I know about the daily investments that are made in AI in future projects that will never come to fruition, they are developed because they are inefficient. I know about the investment of 500 billion in OpenAi and Softbank, a bank that has had billion-dollar losses in four consecutive years is not a bank to invest 500 billion in four years. Here are three pieces of news that you overlook in recognizing the economic disaster that Stargate can have. https://www.cnbc.com/2024/08/05/softbank-shares-tank-near-19percent-wiping-off-4point6-billion-from-sons-fortune.html https://www.forbes.com/sites/noahkirsch/2019/11/07/from-steve-jobs-to-masayoshi-son-apples-ties-to-money-losing-softbank-run-deep/ https://www.forbes.com/sites/jackkelly/2019/11/06/softbank-reported-a-huge-loss-of-89-billion-from-wework-and-uberthis-may-not-bode-well-for-employees/

JAI SINGH

Assistant Professor at ASHOKA INSTITUTE OF TECHNOLOGY AND MANAGEMENT , VARANASI

10h

Interesting event

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