CNBC October 9, 2024
Key Points
– Writer, a San Francisco-based AI startup, debuted a large AI model to compete with enterprise offerings from OpenAI, Anthropic and others.
– The approximate training cost for the new AI model was just $700,000 compared with estimates of $4.6 million for a similarly sized OpenAI model.
– Writer is currently raising up to $200 million from investors at a $1.9 billion valuation, nearly quadruple its valuation in September 2023, according to a person familiar with the situation.
San Francisco-based AI startup Writer debuted a large artificial intelligence model Wednesday to compete with enterprise offerings from OpenAI, Anthropic and others. But, unlike some of those competitors, it doesn’t need to spend as much to train its AI.
The...
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