AI Funding Explosion: Inflection AI Nabs $1.3B, Runway and Typeface Also Raise Big

Who says the venture capital market has slowed?

Certainly not any AI startup at this point. On Thursday, three such startups announced more than $1.5 billion in investments 鈥� led by 鈥減ersonal AI鈥� startup 鈥檚 huge $1.3 billion round.

That funding, led by , , , and new investor , values Inflection AI at $4 billion, , which first reported the news. The new funding brings the total raised by Inflection to more than $1.5 billion, per the company.

Inflection AI, with its partners and Nvidia, is building what it says will be the 鈥渓argest AI cluster in the world鈥� and has created large language models to allow people to interact with its AI-powered assistant called Pi, or Personal AI. Pi lets people quickly receive relevant information and advice on their interests.

Founded last year, the generative AI platform is a competitor to other AI firms such as and . It was co-founded by , who previously co-founded the Google-owned AI lab and serves as CEO at Inflection.

But that鈥檚 not all

Of course, one big round is not newsworthy in AI 鈥� even though Inflection鈥檚 raise is the second-largest in AI this year, behind only Microsoft鈥檚 massive $10 billion investment in OpenAI.

New York-based also raised a $141 million extension to its December $50 million Series C from Google, Nvidia, 1聽and existing investors, among others.

The round was first reported about two months ago by . At that time, it was reported the money was from a cloud service provider and would value the company at $1.5 billion.

Runway helped develop the AI image generator , and launched its video-to-video generative AI app in April. The app lets users transform videos into different styles, such as claymation or watercolors.

Founded in 2018, the company has raised nearly $240 million, .

Finally, San Francisco-based generative AI startup 鈥� which launched in February with a $65 million raise 鈥� also announced on Thursday it has raised a $100 million Series B.

The round was led by Salesforce Ventures with participation from , , , and (Microsoft鈥檚 venture fund).

The company鈥檚 AI platform helps with enterprise content creation such as product shots, blog posts, social media ads and job posts that meet brand specifications.

Big money, big names

While the dollar numbers are eye-catching, so are the names of the investors.

Inflection鈥檚 round includes some of the biggest names of individuals in tech, and also includes Microsoft. Microsoft鈥檚 VC arm also invested in the Typeface round.

Nvidia, whose stock price has shot up thanks to the importance of its chips in the AI process, took part in both the Inflection and Runway raises.

Google 鈥� or GV 鈥� and Salesforce Ventures both participated in the rounds for Runway and Typeface.

It seems like no tech giant wants to be left behind in AI 鈥� no matter the price.