River AI has completed a $1.1 billion financing round and is committed to building an open AI technology stack

August 11th, River AI, a full-stack AI company founded by xAI co-founder Igor Babuschkin, announced today that it has completed a $1.1 billion financing round. The round was led by General Catalyst and AMP PBC, with strategic investments from Nvidia and AMD Ventures. Other investors include Y Combinator and Temasek. This funding will accelerate River AI's efforts to build a powerful personal AI and provide tools for developers and enterprises to train, optimize, and deploy their own AI models, ensuring that the ownership of AI is truly in the hands of individuals and organizations that use it.

Currently, most AI-using enterprises rely on generic models. These models are trained on data from the entire internet and designed for the widest user base. Although generic models are powerful, they are not tailored to any specific enterprise. Previously, building custom models required a dedicated infrastructure team, specialized hardware, and months of time, making it unaffordable for most companies.

With River's API, any company can complete a complex reinforcement learning training task in 15 to 20 minutes without the need for an infrastructure team, resulting in a 2 to 4 times cost reduction compared to closed-source alternatives.

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