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Germany-based AI startup Aleph Alpha is making significant strides in the tech world. Known for its AI language model “Luminous”, the startup is reportedly on the brink of securing a whopping €100 million for its AI assistant. This funding round is attracting the attention of major tech giants, including SAP and Intel.
A Major Boost from Tech Titans
The funding round is expected to include a mix of new and existing German investors, such as Earlybird and 468 Capital. However, the standout participants are undoubtedly SAP and Intel. Intel is set to lead the funding round with a contribution of around €25 million, followed by SAP with around €10 million. The US chip company Nvidia is also expected to join as a new investor.
Skyrocketing Valuation
This influx of funding is set to catapult Aleph Alpha’s valuation to around €450 million. This is a significant leap considering the startup has so far raised €28 million in venture capital. This valuation is a notable achievement for a German AI startup, with only the Cologne-based translation startup DeepL reportedly valued higher.
AI Assistant with Exceptional Capabilities
Aleph Alpha’s AI assistant is capable of writing, understanding, and evaluating texts, similar to OpenAI’s Chat GPT. This capability positions Aleph Alpha as a strong contender in the AI space, offering a powerful tool that can revolutionize various sectors, from customer service to content creation.
Future Plans: Expanding Industrial Applications
The startup has ambitious plans for the future. It aims to expand its industrial application area, such as solving complex tasks in factories, to remain competitive. This expansion will likely open up new opportunities and markets for Aleph Alpha, further solidifying its position in the AI industry.
In conclusion, Aleph Alpha is a shining example of the potential of AI and the growing interest of major tech companies in this field. With its upcoming funding round and plans for expansion, Aleph Alpha is a startup to watch in the AI landscape.
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