OurCrowd, Israel’s most active AI investor according to data from Pitchbook, announced on Tuesday a partnership with the world’s biggest AI chipmaker Nvidia that will help develop the next generation of AI startups. The new collaboration will see startups in OurCrowd’s AI Fund portfolio get easy access into the Nvidia Inception program, which offers access to Nvidia’s latest tools and resources.
“Investors need to take a vertical view of the AI revolution,” says OurCrowd founder Jon Medved. “The application of AI to each business vertical will transform our world and shape the economies of the future.”
The announcement comes barely a day after Nvidia surpassed Saudi Arabia’s oil giant Aramco to become the third most valuable company in the world by market capitalization, and just one month after it passed Alphabet as the third-largest company in the U.S. by market capitalization.
OurCrowd’s AI fund debuted in September 2023 with the goal of raising $50 million and investing in 20-some startups. It has to date invested in companies including Polaris Quantum Biotech, which uses quantum technology to find promising molecules for drug development; and One Zero Digital Bank, Israel’s first fully licensed digital bank.
While the Nvidia Inception program is free for startups, access is highly competitive. The partnership with OurCrowd will offer select AI startups under the OurCrowd AI Fund a fast track into the program.
Alliances like the one between OurCrowd and Nvidia continue to grow as the AI landscape keeps evolving to meet global demands. In December of 2023, Meta and IBM spearheaded the launch of the AI Alliance to promote responsible AI, and last month, Microsoft, Nvidia, Arm, T-Mobile, Samsung, and others launched the AI-RAN Alliance to “utilize AI for the enhancement of radio access network (RAN) performance and enable smarter connections to sustain human progress.”
“AI is poised to affect every industry sector, with an impact comparable to the introduction of cloud computing, social media, the smartphone, the PC, and, before that, electricity,” says Medved.
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