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AI21 Secures $208M in Series C Funding, Valued at $1.4B

Israeli AI startup AI21 has successfully concluded its Series C funding round, securing an impressive $208 million and reaching a valuation of $1.4 billion. The recent infusion of $53 million, contributed by Intel Capital and Comcast Ventures, alongside previous investors Google and NVIDIA, brings the total funding to $336 million.

The additional capital will fuel AI21's global expansion, enhance operational capabilities, and facilitate the hiring of approximately 100 new personnel by 2024. The company, founded in 2017, aims to accelerate the adoption of its AI technology and has gained recognition with a solid clientele, including Fortune 100 companies and individual consumers.

Since August, when AI21 announced the initial $155 million funding, major technology companies and financial institutions have shown increased interest in AI investments, especially after the global success of ChatGPT, a generative AI chatbot developed by OpenAI with Microsoft backing.

Anthony Lin, head of Intel Capital, highlighted AI21's full-stack offering, combining foundation models with applications and operational tools. This approach aims to assist enterprises in accelerating GenAI adoption, ultimately boosting productivity and impacting their financial performance.