Foundry, a Palo Alto-based startup specializing in cloud computing services for AI workloads, announced its emergence from stealth mode with a significant funding round. The company, led by former Google DeepMind and Meta veterans, including Jared Quincy Davis, raised $80 million across a seed and Series A funding round. This financial milestone places Foundry's valuation at $350 million. The funding round was co-led by notable investors such as Sequoia, Lightspeed Venture Partners, Redpoint, M12vc, Conviction Investment Partners, and NEA, among others. Foundry's platform is designed to optimize AI model training by leveraging distributed compute services, addressing the compute availability bottleneck in AI adoption. In a related development, CoreWeave, another cloud computing provider focused on artificial intelligence, is reportedly in talks to raise equity capital at a valuation of $16 billion, more than doubling its previous valuation of $7 billion.
Report: GPU cloud operator CoreWeave seeking new funding at $16B valuation https://t.co/cW8LHWdNT9
Sources: CoreWeave, which offers Nvidia GPUs in the cloud, is in talks to raise funding at a $16B valuation, after being valued at a reported $7B in December (@gilliantan / Bloomberg) https://t.co/Bd5cCjsY7a 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/s3jKNZ2Mov
CoreWeave, a cloud computing provider that’s among the hottest startups in the artificial intelligence race, is in talks to raise equity capital in a transaction that would more than double its valuation to $16 billion https://t.co/LthRq6LmyJ
.@mlfoundry, a new breed of public cloud for AI/ML workloads, secured $80M in Seed and Series A funding, w/ participation from StepStone platform manager @Redpoint. Foundry aims to revolutionize the accessibility and utility of compute capacity worldwide: https://t.co/0EzMpxkvGr
Foundry's Unveiling: $80M Injection for Tailored AI Cloud Solutions #acceleratorcompute #AI #AIstartup #artificialintelligence #CloudServices #Conviction #Foundry #Funding #industrybottlenecks #Investment #JaredQuincyDavis #LightspeedVenturePartners https://t.co/DAx4BTFogp https://t.co/nU99ZqDzmA
Foundry Emerges From Stealth With $80M For Purpose-Built AI Cloud The round was co-led by @sequoia @lightspeedvp @Redpoint @M12vc @w_conviction @NEA and others. @jaredq_ @mlfoundry https://t.co/HQAfvpx5O8 via @crunchbasenews
Foundry launches with $80M in funding to build an AI-optimized public cloud https://t.co/IQINg0ZlRZ
AI is set to be the biggest technological shift of our lifetime, but the adoption of AI is bottlenecked by the availability of compute. At @mlfoundry , the incredible @jaredq_ and team are building a new breed of public cloud, backed by an orchestration platform that makes…
Foundry, a cloud computing service provider focused on AI workloads, comes out of stealth after raising $80M across a seed and a Series A at a $350M valuation (@agarfinks / Fortune) https://t.co/vi3paE0Tvv 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/rvikFg7rK6
Palo Alto-based @mlfoundry, which is building a public cloud purpose-built for ML workloads and is led by a former @DeepMind employee, emerged from stealth with $80M in seed and Series A funding. https://t.co/uMEbT11IqQ
EXCLUSIVE: Foundry comes out of stealth with a $350 million valuation. https://t.co/71uh1R4vDA
.@mlfoundry's distributed compute service simplifies AI model training with veterans from Google DeepMind and Meta. Maximizing the utility of the computing power we already have, and will produce, arrives at the perfect moment in our AI trajectory - and why we led their Series A.… https://t.co/GmWDPLwNBM