"Flapping Airplanes" Raises $1 Billion at $6 Billion Valuation
"Flapping Airplanes" raised $1 billion in a Series A round led by Index and Lux at a $6 billion valuation, nine months after being valued at $1.5 billion in its seed round.
AI company "Flapping Airplanes" raised $1 billion in a Series A funding round led by Index Ventures and Lux Capital, an amount that brings the company's valuation to $6 billion.
This compares to a $1.5 billion valuation in a seed round where the company raised $180 million just nine months ago, according to TechCrunch.
Sequoia, GV, Kleiner Perkins, and Nvidia also participated in the round, while the company stated that its operational kernel framework can run training and inference at a lower cost.
The company intends to allocate the funds to hire engineers and researchers, in a market where AI labs are competing for talent and computing infrastructure.
What do these terms mean?
Series A: A startup's first major round of external funding following the seed round, typically financing initial expansion.
Seed Round: Early funding that helps a company build its first product and validate its concept.
Valuation: The estimated market value of a company as determined by investors when injecting new capital.
Inference: The phase of running an AI model after training to execute a task or answer a query.
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