Generative AI startup Writer has raised $200 million in a Series C funding round, valuing the company at $1.9 billion. The funding, co-led by Premji Invest, Radical Ventures, and ICONIQ Growth, will be used to enhance Writer's enterprise-focused AI platform. Writer, founded in 2020, has developed a full-stack generative AI platform with customizable products for various enterprise applications. The company has launched its own AI models, including Palmyra X 004, and focuses on AI agents and no-code development tools. Writer's client list includes major companies like Salesforce and Uber.
Anthropic's release of Claude 3.5 Haiku has surprised experts with a price increase, deviating from the usual trend of maintaining or lowering costs for new AI models. The model, which offers longer text outputs and updated training data but lacks image analysis capabilities, is more expensive than its competitors. It is available through Anthropic's API and third-party platforms, but not yet on Claude.ai's web interface. The price hike raises questions about its value, with experts noting that robust evaluations are needed to determine its worth.
Seattle-area tech investors predict a significant year for AI in 2024, with a surge in startup acquisitions and the emergence of new AI-driven unicorns. They foresee the rise of multi-modal and domain-specific AI models, over half of new code being written by machines, AI tools integrating seamlessly into user workflows, and large platforms dominating AI innovation, potentially drawing regulatory attention.
