Latest news with #Rockset
Mint
22-05-2025
- Business
- Mint
OpenAI's biggest acquisitions before it took over Jony Ive's io: Details
OpenAI yesterday announced that it is acquiring io, Jony Ive's startup, in a deal that is worth $6.5 billion. This will bring on Jony, who designed some of the most popular Apple products, as the creative head of OpenAI to create devices for the generative AI arena. Having said that, it is interesting to note that Ive's isn't the only acquisition that OpenAI has made so far. In fact, OpenAI has reportedly acquired several other companies over the years; here are the details. OpenAI acquired a company called Windsurf, formerly known as Codieum, for $3 billion earlier this month in May 2025. VentureBeat reported that OpenAI needed to arm the developer ecosystem with superior coding capabilities and also become the primary interface that deals with AI agents. In June 2024, Sam Altman-led OpenAI did acquire Rockset, which was founded by Indian-origin founders. 'We will integrate Rockset's technology to power our retrieval infrastructure across products, and members of Rockset's world-class team will join OpenAI,' OpenAI said in June 2024, post the acquisiton. OpenAI acquired Global Illumination in August 2023. While the value of the deal is undisclosed, it is worth noting that this startup was founded by ex-Instagram employees. This brought a lot of experience in product building to the company. OpenAI acquired Multi in 2024. Multi, a startup based out of New York City, reportedly focuses on screen share and collaboration tech, especially for workers who are using Macs, as per VentureBeat. 'Recently, we've been increasingly asking ourselves how we should work with computers. Not on or using computers, but truly with computers. With AI. We believe it's one of the most important product questions of our time,' Multi said. It added, 'And so, we're beyond excited to share that Multi is joining OpenAI!'
New York Times
13-05-2025
- Business
- New York Times
OpenAI in Talks to Acquire Windsurf, a Programming Tool, for $3 Billion
OpenAI is in talks to acquire Windsurf, an A.I.-powered computer programming tool, for around $3 billion, according to two people familiar with the discussions. The acquisition could gain OpenAI thousands of new customers in the tech industry, which is rapidly embracing tools, like Windsurf, that can instantly generate computer code. The potential deal, which would be OpenAI's largest acquisition, is part of the company's effort to expand what it can offer beyond its popular chatbot, ChatGPT. Last year, OpenAI acquired Rockset, a start-up that helped companies build the nuts and bolts of big computer networks. Windsurf, formerly known as Codeium, was valued at $1.25 billion last year, after a $150 million funding round led by the venture capital firm General Catalyst. The deal is not yet final, said the two people, who spoke on the condition of anonymity. The talks were reported earlier by Bloomberg. OpenAI already offers technology that can generate its own code. In fact, Windsurf relies on OpenAI technology — or similar systems from companies like Google or Anthropic — to generate code. About four years ago, researchers at companies like OpenAI and Google started designing systems that analyzed enormous amounts of text culled from the internet, including digital books, Wikipedia articles and chat logs. By pinpointing patterns in all that text, these systems could generate text on their own, including poetry and news articles. Much to the surprise of the researchers who built these systems, they could even write their own computer code. Now, programmers are using these systems to generate code and fold it into larger software development projects through a variety of products, including Windsurf and Microsoft's Copilot. (The Times has sued OpenAI and its partner, Microsoft, accusing them of copyright infringement regarding news content related to A.I. systems. OpenAI and Microsoft have denied those claims.) Building the technology that power these coding tools is enormously expensive for companies like OpenAI, and the start-up is under pressure to raise revenues. OpenAI expects about $3.7 billion in sales this year, according to financial documents reviewed by The New York Times. OpenAI estimated that its revenue would reach $11.6 billion next year. In March, OpenAI completed a $40 billion fund-raising deal that valued the company at $300 billion, making it one of the most valuable private companies in the world, along with the rocket company SpaceX and ByteDance, the maker of TikTok. The round was led by the Japanese conglomerate SoftBank. But the deal has a caveat: OpenAI is trying to change its complicated corporate structure, and if it does not do it by the end of the year, SoftBank will have the option to reduce its total contribution to $20 billion, a person familiar with the deal said.
Yahoo
26-02-2025
- Business
- Yahoo
These engineers raised $8.1 million for a new healthcare AI startup after OpenAI acquired their last company. See the 11-slide pitch deck they used.
Charta Health just raised an $8.1 million seed round from Bain Capital Ventures. Charta's founders left Rockset, which OpenAI acquired last year, to start the healthcare AI company. The startup, which uses AI to review patient charts, got $500,000 in contracts within 60 days. Justin Liu and Scott Morris didn't have any healthcare experience when they left Rockset, the AI infrastructure startup that OpenAI acquired in June. This month, they're announcing an $8.1 million seed round led by Bain Capital Ventures for their new healthcare AI startup, the company told Business Insider exclusively. Liu and Morris left Rockset in 2023 to dig deeper into healthcare, the industry in which they felt the tech could make the biggest impact. The two spent a year getting their medical coding credentials and interviewing over 100 healthcare professionals to figure out what healthcare technologies were worth building. That exploration turned into Charta Health, which is using AI to automate patient chart reviews to help providers capture more revenue and reduce their administrative burdens. Providers have to review patient charts to make decisions about patient care and select the right medical codes for billing. However, manual chart reviews can be time-consuming, potentially reducing the amount of time providers can spend with their patients and driving up costs. Charta Health's AI automates that review process for a range of tasks, including helping to identify missed codes to increase provider revenue, flagging potential issues before billing to prevent claims denials, and ensuring the charts comply with payers' complex documentation requirements. Charta began its outreach to potential clients through a series of cold emails. Within 60 days, those emails landed the startup $500,000 in revenue — all before Charta launched from stealth in June 2024. That initial traction quickly brought Charta to profitability, leading Liu and Morris to reevaluate their strategy and pursue venture funding to focus on growth instead of sustaining early profits. "We didn't realize just how big of an opportunity this was going to be," Liu said. SV Angel, South Park Commons, SpringRock Ventures, Refract Ventures, and strategic angel investors contributed to Charta's Bain-led seed round. The startup also hired Dr. Caesar Djavaherian, cofounder and chief clinical innovation officer of healthcare clinic startup Carbon Health, as its chief medical officer. Healthcare executives and investors have been clamoring for AI-powered solutions to automate administrative tasks in healthcare as the industry struggles with a staffing crisis and low hospital margins. Dozens of startups have grabbed funding to address various tasks in that bucket, like CodaMetrix, which raised a $40 million Series B in March to analyze clinical notes and derive medical codes for billing and claims using AI. Liu said Charta sets itself apart by offering solutions for a broad variety of use cases and personalizing the platform to its clients' needs. He said almost all of Charta's clients use the company's tech for multiple tasks related to patient chart reviews. "Ultimately, the vision here is that we will create this layer that allows you to perform these chart reviews for any kind of use case at any point inside the revenue or care cycle," Liu said. The startup typically works with high-volume, low-reimbursement specialties like primary care, urgent care, and behavioral healthcare. Charta Health focuses on outpatient settings, setting it apart further from healthcare AI startups like SmarterDx, which uses AI to analyze patient charts for inpatient care. Liu said Charta plans to use most of the seed funding to build out its sales team to land more contracts, as well as for product expansion as the company looks to tackle more use cases for chart reviews in different specialties. Read the original article on Business Insider
