Health and life insurance providers face a rising volume of claims due to chronic disease and aging populations, but their processes lack scalability. AI automation can help, but it takes more tailoring than for other insurance types. Automating property and casualty insurance, for instance, gave rise to public company Guidewire decades ago, but health insurance […]
Distributional raises $19M to automate AI model and app testing
Distributional, an AI testing platform founded by Intel’s former GM of AI software, Scott Clark, has closed a $ 19 million Series A funding round led by Two Sigma Ventures. Clark says that Distributional was inspired by the AI testing problems he ran into while applying AI at Intel, and — before that — his work […]
KoBold Metals, which uses AI to help find critical minerals for the energy transition, raises $491M
Earlier this year, KoBold Metals found what might be one of the largest high-grade copper deposits of all time, with the potential to produce hundreds of thousands of metric tons per year, the company’s CEO said. Now, just eight months later, KoBold is close to raising over half a billion dollars. The funding should help […]
As data center usage heats up, Submer raises $55.5M to cool things down
The race is on for better chips and data center capacity to handle AI workloads, but all that activity comes with a catch. Heavy processing power means heat — a lot of it — and that has massive implications, both for how well servers operate and the environment. With traditional cooling methods like air and […]
OpenAI raises $6.6B and is now valued at $157B
ChatGPT maker OpenAI has closed the largest VC round of all time. The startup today announced that it raised $ 6.6 billion in a funding round that values OpenAI at $ 157 billion pre-money. Led by previous investor Thrive Capital, the new cash brings OpenAI’s total raised to $ 17.8 billion or so, per Crunchbase. […]