TLDR:
- AI startup Poolside is nearing a $3 billion valuation before releasing its initial product.
- The company, founded by former GitHub CTO Jason Warner and software entrepreneur Eiso Kant, is set to raise nearly $500 million in new financing.
An artificial intelligence startup called Poolside, founded in early 2023 by Jason Warner and Eiso Kant, is currently in talks to raise funding that would value the company at $3 billion before ever releasing a product. The Paris-based company is looking to raise nearly $500 million, with existing investor Bain Capital Ventures potentially leading the investment round. Poolside’s focus on using AI to write software reflects a larger trend of investor interest in AI startups, despite the technology’s commercial challenges. The company aims to build advanced AI for coding and expand into other fields.
While Poolside’s specific product details remain undisclosed, the startup has demonstrated a code-generation product to potential investors, showcasing its unique approach within a competitive market of AI tools for coding. The company has also secured access to powerful Nvidia GPUs through a partnership with Iris Energy Ltd., an Australian data center company. Poolside’s funding success highlights the ongoing excitement in the AI startup space as well as the potential for innovation and growth in the future.
