Artificial Intelligence: Adept AI Raises $350M For AI That Does Your Bidding

Adept previously raised $65 million in early 2022.

Adept, a one-year-old startup founded by three AI experts, has raised $350 million as part of its Series B to develop an AI assistant that can turn text commands into sets of actions. This would hopefully enable a future where an engineer can ask an AI assistant draw up the construction plan of a house and stand by as it executes on the command.

The funding round was led by General Catalyst and co-led by Spark Capital, with additional participation from existing investors, new financial partners, and some tech heavyweights.

Adept’s demo ACT-1, which is capable of performing complex functions like importing LinkedIn URLs into recruiting software, will be available on desktop and mobile in the future. (Forbes)

David Luan, Adept’s CEO, has a vision to make the technology achieve artificial general intelligence (AGI) – a theoretical AI that is able to take logical decisions independently of constant human guidance. However, Luan’s AGI would be more commercially oriented, with humans remaining in overall control.

The company has lined up strategic investors like Microsoft, Nvidia, Atlassian, and Workday, all of whom are tech giants that might someday integrate Adept’s AI assistant into their software.

The company is said to be raising more capital with these collaborators at a yet-to-be-determined valuation that could potentially be higher than $1 billion.

Related Story:  OpenAI Announces GPT-4

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…