Also – OpenAI Chair Bret Taylor’s AI agent endeavor and an AI cybersecurity startup

Deborah Yao, Editor

February 19, 2024

2 Min Read
SoftBank building sign
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SoftBank raising funds to compete against Nvidia

SoftBank founder Masayoshi Son is trying to raise as much as $100 billion to fund a venture that would supply AI chips to compete with Nvidia, according to Bloomberg.

The venture would complement the business of British chip designer Arm, in which SoftBank retains a 90% stake after its IPO. SoftBank could provide $30 billion, with the rest coming from institutions in the Middle East.

SoftBank’s market value has soared by $50 billion in the past week after a run up in Arm shares.

Funding news

Lambda Labs

San Jose, California-based Lambda Labs is a hardware and cloud startup that offers on-demand and reserved GPUs for AI training and inference. “This AI rollout is going to require a lot of GPUs. This latest financing supports our mission to make GPU compute as ubiquitous as electricity,” said Lambda CEO and co-founder, Stephen Balaban, in a statement.

Latest funding: $320 million, series C

Lead investor: U.S. Innovative Technology Fund

Other investors: B Capital, SK Telecom, T. Rowe Price Associates, Crescent Cove, Mercato Partners, 1517 Fund, Bloomberg Beta, and Gradient Ventures, among others. 

Funding plans: Lambda will use the funds to expand its AI cloud business, including on-demand and reserved offerings.



Sierra is a San Francisco-based conversational AI startup aiming to elevate the customer experience through AI agents. It was founded by Bret Taylor, OpenAI chair and the former co-CEO of Salesforce, and Google executive Clay Bavor.

Latest funding: $110 million, according to Fortune

Lead investors: Sequoia Capital and Benchmark



Xensam is a Swedish startup that provides AI-powered software assessment management to help businesses manage applications, track usage, identify overspending and maintain compliance.

Latest funding: $40 million

Lead investor: Expedition Growth Capital

Funding plans: The startup plans to use the funding to invest in AI product development and expand operations in the U.S. and Europe.



Clarity is an Israeli AI cybersecurity startup whose platform detects deepfakes in real time and at scale.

Latest funding: $16 million, seed funding

Lead investor: Walden Catalyst and Bessemer Ventures Partners

Funding plans: Funds will be used to double-down on its core research efforts and provide best-in-class solutions to the most critical infrastructure in society.

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ChatGPT / Generative AI

About the Author(s)

Deborah Yao


Deborah Yao runs the day-to-day operations of AI Business. She is a Stanford grad who has worked at Amazon, Wharton School and Associated Press.

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