Lightmatter, a startup using light for AI computing, announced that it has raised $154 million from Google Ventures and Fidelity Management & Research Co. among others. This raise tripled the company’s valuation and solidifies its place in the artificial intelligence (AI) boom.
Lightmatter uses light to power AI computations, which are faster than those powered by traditional electronics-based systems. By harnessing this technology, Lightmatter can develop more efficient algorithms that can be used in various applications such as autonomous vehicles and robotics systems.
This new funding will help Lightmatter expand its operations into new markets while continuing to innovate its existing products. The company plans on investing heavily in research and development so it can stay ahead of competitors who may also be looking at similar technologies for use with AI applications. Additionally, they hope to attract top talent with competitive salaries so they can continue pushing boundaries within the field of artificial intelligence computing solutions.
Overall, this investment shows a strong commitment from investors toward helping Lightmatter reach its full potential as an industry leader within the rapidly growing area of Artificial Intelligence technology.
Read more at Yahoo Finance
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