Mentioned:
VERS -2.41% AMD -10.80%
One of the most exciting publicly traded artificial intelligence companies in Canada has raised a fresh round of funding.
What’s happening:
- VERSES AI (CBOE: VERS) has raised $20M CAD in a new equity financing round
Why it matters:
- VERSES AI recently made waves when they announced their artificial intelligence model Genius outperformed OpenAI’s o1 Preview model in a comparison focused on the code breaking game Mastermind
Going deeper:
- Building new types of breakthrough artificial intelligence models has continued to be a mega trend throughout Silicon Valley and Wall Street, which has even fuelled technology giants including Advanced Micro Devices (NASDAQ: AMD) to make big bets on emerging startups
- VERSES AI has also been cutting notable deals around their artificial intelligence technology, including previously landing a research collaboration with Volvo to develop breakthroughs in autonomous driving and avoiding unseen pedestrians or possible dangerous objects
