Kevin Hartz's venture firm A* has closed its third fund with $450 million, which will invest in startups across various sectors including AI applications.
Why it matters
This funding round for A* signifies continued investor confidence in the venture capital landscape, particularly for early-stage companies. While the fund is generalist, its explicit mention of AI applications as a focus area indicates that AI-driven startups are still a significant draw for investment, suggesting ongoing innovation and market potential in the AI sector.
A venture capital firm called A* has raised a lot of money to invest in new companies. Some of these companies will be using AI to create new products and services.
Altman said that Musk's focus on controlling the initial for-profit gave him pause because OpenAI was dedicated to keeping advanced AI out of the hands of a single person, and Altman, with his experience running the prominent startup accelerator Y Combinator, knew "founders who had control usually did not give it up."
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