Business News Report SMW Technology
June 30, 2023

Microsoft and NVIDIA Lead Inflection AI’s $1.3B Funding Round

In Brief

Inflection AI, the studio behind the “personal chatbot” Pi, has raised $1.3 billion in fresh funding.

The new funding brings the total raised by the company to $1.525 billion and values the company at $4 billion.

Inflection AI previously raised $225 million in a first round of funding in early 2022.

Inflection AI, the studio behind the “personal chatbot” Pi, has raised $1.3 billion in a new funding round led by Microsoft, Reid Hoffman, Bill Gates, Eric Schmidt, and new investor NVIDIA.

Microsoft and NVIDIA Lead Inflection AI's $1.3B Funding Round

The fresh funding brings the total raised by the company to $1.525 billion and values the company at $4 billion.

Partnering with CoreWeave and NVIDIA, Inflection AI is constructing the world’s largest AI cluster, which consists of 22,000 NVIDIA H100 Tensor Core GPUs. 

Inflection says that it developed the Inflection-1 large language model (LLM) in just over a year. The company claims that its LLM outperforms GPT-3.5, LLaMA, Chinchilla, and PaLM-540B across various benchmarks commonly used for comparing large language models.

“Personal AI is going to be the most transformational tool of our lifetimes. This is truly an inflection point. We’re excited to collaborate with NVIDIA, Microsoft, and CoreWeave as well as Eric, Bill and many others to bring this vision to life,” said Mustafa Suleyman, CEO and co-founder of Inflection AI.

The Inflection-1 LLM powers Pi, Inflection’s “personal AI” chatbot released in May. Pi stands for “personal intelligence” which reflects its ability to provide infinite knowledge based on a person’s unique interests and needs, according to Inflection. The chatbot is free to use on the web and is available to download on the iPhone and iPad. Inflection also continuously updates Pi with new features and improvements.

As described by Mustafa Suleyman, CEO and co-founder of Inflection, Pi serves as a digital companion that accompanies individuals in learning and offers a supportive platform for discussing challenging moments. The chatbot provides text and voice conversations, friendly advice, and concise information in natural, human-like language.

via Inflection AI

The freshly raised funds will be used to further develop Pi. Founded in early 2022 by Mustafa Suleyman, Karén Simonyan, and Reid Hoffman, Inflection AI previously raised $225 million in a first round of funding early last year from Greylock, Microsoft, Reid Hoffman, Bill Gates, Eric Schmidt, Mike Schroepfer, Demis Hassabis, Will.i.am, Horizons Ventures, and Dragoneer.

The Inflection AI team comprises some of the industry’s top AI experts, formerly from DeepMind, Google, Microsoft, OpenAI and Meta.

“We’re proud to support Inflection AI as they pursue their vision for more trusted and personal AI experiences,” said Kevin Scott, CTO and EVP AI, Microsoft. “It is an exciting time, and ambitious AI companies like Inflection AI are pioneering the industry with transformative products that are accessible, easy to use, and show the many possibilities of AI.”

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About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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