Visa wants to be a part of the artificial intelligence movement. And they are launching a brand new fund to do it.
What’s happening:
- Visa (NYSE:V) has announced that they are putting up $100M USD to fund startups working on generative AI for payments
- Led by their venture capital arm Visa Ventures, the aim is to fund early stage startups building new infrastructure from data organization to applications for users
Why it matters:
- Artificial intelligence continues to attract large pools of new capital to fund startups
- Visa Ventures is a prominent venture capital arm that has made a variety of notable investments over the years across payment platforms, crypto, software and more
The intrigue:
- Visa says they have been using artificial intelligence in various capacities for over two decades already and want to be a leader in generative AI technology
