AI startup Inflection, founded by DeepMind's co-founder Mustafa Suleyman and LinkedIn co-founder Reid Hoffman, is planning to raise between $500M and $675M in fresh funding.
CEO Suleyman told FT, "Ultimately if we decide to raise, we will raise the right amount of capital to achieve our company goals."
The firm is building an AI-powered personal chatbot for the web.
- Its consumer product is currently in testing, with the firm aiming to launch it "very soon."
- Inflection is using Microsoft's Azure cloud computing infrastructure to train its AI models.
- It last raised a $225M funding round in May 2022 and is backed by VC firm Greylock Partners, where Hoffman is a partner.
- Inflection is reportedly raising fresh funding to boost its commercialization efforts.
Hoffman stepped down from the board of OpenAI to avoid a potential conflict of interest with other generative AI startups that he aims to invest in.
