Rain AI, which was hailed as the next artificial intelligence hardware disruptor, finds itself today at the epicenter of a high-stakes financial saga. Backed by OpenAI CEO Sam Altman and a lineup of heavyweight investors, the semiconductor startup aimed to take on Nvidia's stronghold with advanced AI chips, but now it's struggling to survive.
Sam Altman of OpenAI reportedly directly solicited investments for a new competitor to Nvidia from OpenAI's own investors. This occurred even while Nvidia is said to be increasing its business relationship with Elon Musk, according to the New York Post.
He also promoted Rain AI’s upcoming $150 million Series B funding round, which, according to a source with direct knowledge of the matter, would value the company at approximately $600 million.
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