PYMNTS.com August 30, 2024
Magic raised $320 million from a group of investors that includes former Google CEO Eric Schmidt to build an artificial intelligence coworker for AI research and code generation, the company said in a Thursday (Aug. 29) blog post.
The investment brings the total amount the company has raised to $465 million, according to the post.
Together with Schmidt, other new investors in Magic include Jane Street, Sequoia and Atlassian, per the post.
“We believe the most promising path to safe [artificial general intelligence (AGI)] is to automate AI research and code generation to improve models and solve alignment more reliably than humans can alone,” Magic said on its website.
Magic also said in its blog post that it will build...
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