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Today: July 14, 2024
July 3, 2024
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Peter Thiel-backed Fund Leads $85M Round for Open-Source AI Platform

TLDR: Peter Thiel’s Founders Fund co-leads a $85 million seed round for open-source AI platform Sentient

Key Points:

  • Sentient raises $85 million in seed funding to develop an open-source AI platform
  • Founders Fund, Pantera Capital, and Framework Ventures co-led the funding round

Peter Thiel’s Founders Fund has co-led an $85 million seed funding round for Sentient, an open-source AI platform. The company, which includes Sandeep Nailwal, a co-founder of Polygon, as one of its core contributors, aims to build community-driven AI models. The round also saw participation from other prominent investors in the industry such as Pantera Capital and Framework Ventures. Nailwal, along with two professors and a startup, is leading the core contributors team at Sentient. The platform is set to compete directly with OpenAI by offering a community-built approach that allows users to access and contribute to the model itself, while also rewarding contributors.

Sentient plans to launch its testnet in the third quarter of the year and continue building its platform with the fresh funding. With a focus on decentralizing AI development and incentivizing contributors, Sentient aims to revolutionize the way AI models are created and utilized. By allowing users to co-own the AI models they help create and receive rewards for their contributions, the platform seeks to address the challenges of centralized AI development and encourage community involvement.

The team behind Sentient envisions a future where AI development is accessible to all, and contributors are fairly rewarded for their efforts. With the backing of prominent investors and a strong core team, Sentient is poised to make a significant impact in the AI industry and pave the way for a more collaborative and inclusive approach to artificial intelligence.

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