Search results for General Catalyst
AI & Enterprise
AI coding startup Cognition raises over $1 billion at $25 billion valuation, ARR nears $492 million
AI coding startup Cognition raised more than $1 billion at a pre-money valuation of $25 billion. TechCrunch reported the valuation marked a sharp rise from an October post-money valuation of $10.2 billion after a $400 million funding round in September last year. Cognition develops Devin, an autonomous AI software engineer. The round was led by Lux Capital and General Catalyst, with participation from Founders Fund and 8VC, among others.
AI & Enterprise
Reka AI seeks to expand world model and robotics business with Moonvalley acquisition
Reka AI, an AI video app developer, has acquired video generation AI model startup Moonvalley through an all-share exchange. The Information, citing two people familiar with the matter, reported that Toronto-based Moonvalley was founded in 2023 and offers video generation models trained on licensed data to avoid copyright infringement. Reka AI plans to use the acquisition to expand into world models and robotics, it said.
AI & Enterprise
AI computing power shortage deepens, squeezing AI startups
A worsening shortage of AI chips is prompting major cloud companies to allocate GPU inventory first to internal demand and large customers, increasing pressure on AI startups. Some startups are said to be paying higher costs to access GPU servers. The Information reported that even heavily funded startups are affected, as demand from major AI developers rises and cloud providers limit capacity for smaller clients while raising fees for Nvidia GPU servers.
