Investing in Artificial Intelligence (AI) startups such as OpenAI, Alpha Intelligence Capital (AIC) is seeking to raise US$250 million (S$337 million) and has drawn support from government-owned enterprises in Singapore and France. According to business partners Arnaud Barthelemy and Terry Chou, AIC has raised US$160 million for the fund. Participating entities include Taiwan’s CDIB Capital Group, Singapore’s state-run fund and France’s Bpifrance.
OpenAI, the company that created ChatGPT and FlexAI, a startup in computing architecture, are among the first investments made by the recently established AIC fund. The Luxembourg-based firm is placing bets that businesses and consumers throughout the globe will keep using AI at a faster rate, driven by the growing demand for services like ChatGPT.
SenseTime Group, a Chinese AI firm, was one of AIC’s earlier investments. AI start-ups that were ultimately purchased by Apple, IBM and BioNTech were also included in its inaugural fund, according to Ms. Chou, who works out of AIC’s Asia headquarters in Singapore.
Globally, venture capital firms are raising billions of dollars to support technologies like generative AI, which powers chatbots like Microsoft’s Copilot, Google’s Gemini and ChatGPT. These investors anticipate that AI-powered solutions will revolutionize conventional business practices and assist in resolving technological issues.
However, according to Mr. Barthelemy, who also serves as AIC’s chief operational officer, the growing interest in AI can occasionally result in exaggerated valuations of start-ups with hazy revenue prospects.
“Our investors are convinced that AI will profoundly impact their respective businesses across all sectors and that this is just the beginning,” he said. “Our investors trust our expertise to help them navigate the AI hype.”
According to Ms. Chou, the fund would take into account businesses at every stage of the AI value chain, even hardware startups.
Read More : https://thecioconnect.com/
