Israeli AI systems developer AI21 Labs, founded by Prof. Amnon Shashua, Prof. Yoav Shaham and Ori Goshen, is raising $300 million in a Series E financing round to build its own large language models (LLMs), “Business Insider” reports. The company’s most recent financing round was in 2023 when it raised $208 million at a company valuation of $1.4 billion. Previous investors include Google and Nvidia. The Series E financing round will bring the total raised by AI21 Labs to $636 million.
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AI21 Labs is focusing on reducing hallucinations in generative AI, which would make LLMs more reliable. In March, AI21 Labs launched the Maestro planning and orchestration system, which improves the accuracy of systems like ChatGPT and Claude by up to 50% on complex tasks.
Published by Globes, Israel business news – en.globes.co.il – on May 11, 2025.
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