TLDR:
Key Points:
- Foundry Technologies Inc. launched with $80 million in funding for an AI-optimized public cloud.
- The platform simplifies the process of setting up a public cloud for running AI models.
Full Article:
Foundry Technologies Inc. has entered the market with a significant $80 million in funding to build an AI-optimized public cloud. The investment was led by Lightspeed Venture Partners and Sequoia Capital, with other notable investors such as Microsoft Corp.’s venture capital arm and Google LLC Chief Scientist Jeff Dean joining in. With a valuation of $350 million, Foundry has seen remarkable growth since last year.
The platform aims to simplify the process of setting up a public cloud environment capable of running AI models, which typically involves manual work to configure the hardware. Foundry offers access to various types of instances, including high-end chips like the H100 from Nvidia Corp. and cost-efficient hardware configurations.
Customers can leverage Foundry’s cloud for AI training and inference tasks, with the flexibility to adjust infrastructure based on workload requirements. The company claims to provide computing power at lower costs compared to other options, making it a compelling choice for industry players. Foundry has already secured customers like LG Electronics Inc., KKR, and multiple universities.
To further expand its reach, Foundry plans to use its funding for product development and establishing industry partnerships. The company’s entry into the AI infrastructure market follows recent funding rounds for other players like Lambda Inc. and Together AI Inc., indicating a growing interest in AI-optimized cloud platforms.
