San Francisco-based startup Writer has launched a large AI model aimed at enterprise clients, positioning itself as a competitor to companies like OpenAI and Anthropic. The Startup spent only $700,000 to train its model using synthetic data to cut costs, compared to the millions typically spent by other startups. Writer is raising up to $200 million at a valuation of $1.9 billion, nearly quadrupling its valuation from a year ago. The company has over 250 clients, including Uber, Salesforce, and Vanguard. Some experts have flagged synthetic data as a risk for introducing biases into AI models.
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00:00It's Benzinga, and here's what's on the block.
00:02San Francisco-based startup Ryder has launched a large AI model aimed at enterprise clients
00:08positioning itself as a competitor to companies like OpenAI and Anthropic.
00:12The startup spent only $700,000 to train its model using synthetic data to cut costs, compared
00:18to the millions typically spent by other startups.
00:21Ryder is raising up to $200 million at a valuation of $1.9 billion, nearly quadrupling its valuation
00:27from a year ago.
00:29The company has over 250 clients, including Uber, Salesforce, and Vanguard.
00:34Some experts have flagged synthetic data as a risk for introducing biases into AI models.
00:39For all things money, visit Benzinga.com.