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Nvidia (NVDA.)US) joined the chatbot manufacturer KoreAI Injection 1$500 million, this is the company's latest investment in artificial intelligence (AI). kore.AI said Tuesday that FTV Capital led the round, which the company plans to use to develop more virtual assistants for global brands. The Orlando-based startup says its corporate customers include Coca-Cola, Airbus, Roche.
Before the latest round of funding, Nvidia was already a KOREInvestors in AI. Over the past year, Nvidia has struck several deals with AI companies such as Hugging Face, Cohere, and Mistral AI. Nvidia's chips are essential for the training and development of generative AI. In 2023 alone, the company has made more than a dozen investments in AI startups, mostly in companies that use its advanced processors.
kore.AI says it is currently doing 4 per day automatically500 million interactions, involving about 200 million consumers, and preparing for an initial public offering.
kore.Raj Koneru, the founder and CEO of AI, said the company's revenue has grown by triple-digit percentages over the past few years, but he did not give specifics. "We will have the scale and the process to be able to do an IPO in about two years," he said. ”
kore.AI was founded in 2014. The company helps businesses reduce costs by interacting with their business, including with users, employees, and customers. Businesses in industries such as banking, healthcare, and retail use its pre-built or customized virtual assistants.
Recently, KoreAI is starting to use generative AI technology to generate text, images, or other content based on prompts. Kore AI integrates commercial and open-source large language models, such as those built by OpenAI, Alphabet's Google, Meta Platforms, Anthropic, and Cohere, and then fine-tunes these platforms or further trains them with new data to accomplish specific tasks.
Gartner estimates that the conversational AI market could reach $377 billion in revenue by 2032, up from $66 billion in 2023.
ChatGPT, released by OpenAI, has shown the world what could happen," Koneru said at a conference, "but we're still just the tip of the iceberg. ”