Get to Know Top 10 US AI Unicorns except OpenAI and Midjourney
Artificial intelligence (AI) is rapidly becoming a core technology driving social development, and the United States has always been taking the lead. Recently, the newcomers OpenAI and Midjourney have made frequent headlines, representing the flourishing growth and rapid progress of AI. Additionally, many outstanding companies and leaders in AI are pushing forward with astonishing speed to advance technology and bring profound changes to the world.
The New York Artificial Intelligence Technology Association (NYAITA) recently released a list of Top 10 AI unicorns in the US covering giants as well as rising stars. As a global financial and technological center, New York is the cradle of the US’s even global artificial intelligence industry. NYAITA is a non-profit organization approved by New York City government under instructions from its Science & Technology Committee. The association aims to unite AI-related technology enterprises and public institutions in this city. With a global perspectives, it focuses on research and development for core AI technologies and aims to build an ecosystem for production, study, research and applications as well as an internationally influential platform for AI technical services and applications, so that it can promote further development in both areas within New York City. In this article, we will introduce you one by one these outstanding companies behind Top 10 AI unicorns in the US to grant you more sensitive understanding towards AI developments!
OpenAI is a non-profit organization co-founded by several well-known figures with the aim of promoting the development and application of artificial intelligence technology. In 2023, OpenAI became a super unicorn valued at $29 billion and forever changed the world with GPT-4.
Midjourney is a leader in text-to-picture sector founded by David Holz in August 2021 with only eleven full-time employees, but has achieved an annual revenue of one billion US dollars through its subscription-based business model without raising any funds yet.
Jasper was once a leading “AI text generation” tool before ChatGPT. It was used for writing video scripts, advertising copy, emails, and other repetitive text work.
The team started with only 9 people in the first year but expanded to 160 people within ten months. According to The Information report, it was expected to generate an annual revenue of over $60 million. In October of the same year, Jasper became one of the fastest unicorns in history after Coatue participated in an $85 million Series A financing round with Insight Partners and Bessemer Venture Partners.
According to The Information report, Character AI is currently seeking to raise $250 million. This company has created a web chatbot application based on LaMDA’s neural language model which generates human-like text responses and participates in contextual conversations. Simply put, users can chat with virtual chatbots where anyone can talk with virtual characters such as Donald Trump or Elon Musk or infamous Walter White from “Breaking Bad”.
Stability AI, the entrepreneurial company behind Stable Diffusion – the popular text-to-image model – announced in October last year that it had raised $101 million in funding led by Coatue, Lightspeed Venture Partners and O’Shaughnessy Ventures. After this round of financing, Stability AI was valued at $1 billion.
Anthropic is an AI startup that received a $300 million investment from Google’s cloud division for a 10% stake last year during the AIGC hype. With a valuation approaching 5 billion US dollars, it became the second unicorn in the field after OpenAI.
Inflection AI is a private enterprise in the field of general modeling. As a machine learning startup, it has developed multiple neural networks that optimize natural language text processing and provide one-stop solutions for AI-human interaction. In last year’s CNBC profile, Suleyman expressed his hope to build products that simplify people’s communication with machines using artificial intelligence to help humans “talk” to computers. He claimed that Inflection is developing new technology that will eventually enable anyone to converse with computers using simple language.
Adept AI was established last April by Chief Scientist Ashish Vaswani and CTO Niki Parmar along with current CEO David Luan. They focus on creating robots based on core technology similar to text generation tools and have an estimated market value of around 1 billion US dollars. Luan expressed that Transformer and its applications represent the biggest step towards general intelligence in modern history; but true general intelligence requires transforming robots that can act – not just read or write code. At Adept, they are training a model to use all of today’s software tools and APIs.
Founded in 2016 and headquartered in Silicon Valley, JUNLALA is a well-known artificial intelligence company that focuses on creating cutting-edge AI algorithms and products. Its newly launched product JunLaLa.AI combines AI painting and AI conversation – an app that can solve all users’ needs. With a strong background of mysterious scientists from Silicon Valley, people are looking forward to its next performance.
Hugging Face is an active AI startup that gained attention in its early days due to its Transformers model library and strong community.
It currently has nearly 135,000 pre-trained models with over 1,660 contributors on GitHub. The platform has attracted 54,000 users with 81,000 stars and 18,000 forks. On average, more than 50,000 people download models from Hugging Face every day.
The artificial intelligence industry is experiencing rapid development as various companies compete for technology and market share, marking another golden age for artificial intelligence. It is believed that these companies will shine brightly during this era. The wave of transformation brought about by artificial intelligence will have profound impacts on politics, economics, and society. In this process of change, the leaders who seize opportunities in AI will drive human civilization forward. The AI leaders in the US are undoubtedly ready to lead the world into a new era of artificial intelligence.