The investors in AI Fund include NEA, Sequoia, Greylock Partners and the SoftBank Group. Each company AI Fund invests in will be an AI related business. The first company to be created out of AI Fund is Landing.ai, a company targeting AI opportunities in the manufacturing industry.
The company was created by Professor Andrew Ng, after he created a methodology to experiment around applied AI projects and spin them out into products while at Baidu in Sunnyvale.
Andrew Ng officially launches his $175M AI Fund
Announcing the AI Fund: Building transformative AI companies
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- Hedge fundA pooled investment vehicle administered by a professional management firm, and often structured as a limited partnership, limited liability company, or similar vehicle
- Sequoia CapitalSequoia Capital is a venture capital firm that has invested in companies like Google, Apple, Cisco, YouTube, AirBnB and WhatsApp. Founded in 1972 by Donald Valentine, companies backed by Sequoia have created over $3.3 trillion dollars in market capitalization.
- Greylock PartnersGreylock Partners is a venture capital firm that back entrepreneurs building consumer and enterprise software companies. Their investments include Airbnb, AppDynamics, Cloudera (NYSE: CLDR), Docker, Dropbox (Nasdaq:DBX), Facebook (Nasdaq: FB), LinkedIn (NYSE: LNKD), Medium, Nextdoor, Okta (Nasdaq: OKTA) among others.
- SoftBank GroupSoftBank Group is a multinational conglomerate holding company investing in businesses and technologies based in Minato, Tokyo-based company founded in 1981 by Masayoshi Son.
- Artificial intelligence (AI)Artificial intelligence (AI) is intelligence exhibited by machines.
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