Andreessen Horowitza major venture capital firm founded by Marc Andreessen AND Ben Horowitzit is reportedly planning to raise a significant amount of funding, with a significant portion going to AI initiatives.
What happened: The Silicon Valley-based company aims to raise a total of $6.9 billion from investors, focusing on artificial intelligence, Bloomberg reported, citing a person familiar with the matter.
The funds will be split into a master fund, a growth fund, two AI-focused funds, a gaming fund and a fund for startups in a sector called “American Dynamism.”
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The American Dynamism category includes companies addressing critical issues in the United States, such as aviation, defense and manufacturing.
The company will not seek additional funding for its crypto and bio funds until next year. In 2022, Andreessen Horowitz has earmarked $4.5 billion for its cryptocurrency-related funds, the report notes.
Because matter: This move by Andreessen Horowitz is in line with its previous strategic focus on artificial intelligence and related technologies. In December 2023, the company highlighted the potential of decentralized markets in democratizing AI, as well as the role of cryptocurrencies in the development of AI-generated video games, in its “Big Ideas in Tech for 2024” report.
Earlier the same month, the company led a $415 million funding round Mistral AIa French startup and rival of ChatGPT-Creator OpenAI. In January 2024, the company provided $75 million in financing Quoraa question-and-answer website, to accelerate the growth of its AI chat product.
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