SEOUL, Oct. 27 (Yonhap) — Twelve Labs, South Korea’s generative synthetic intelligence (AI) startup, has attracted a mixed US$10 million from U.S. chip design firm Nvidia Corp., U.S. chipmaker Intel Corp. and two others, based on the corporate Friday.
Nvidia has made its first direct funding in a Korean AI startup, Twelve Labs mentioned in an announcement.
The 2 different traders are Samsung Subsequent, the company enterprise capital unit of Korean chip large Samsung Electronics Co., and native fairness fund Korean Funding Companions, the assertion mentioned.
Twelve Labs has developed hyperscale AI fashions that perceive numerous kinds of info in video, akin to textual content, logos, dialog and goal habits.
This picture supplied by Twelve Labs reveals the generative AI startup’s emblem and promotional language about its AI applied sciences. (PHOTO NOT FOR SALE) (Yonhap)
“What Twelve Labs has completed technically is spectacular. Anybody who understands the complexities related to summarizing video will respect this leap ahead,” Mohamed Siddeek, head of NVentures at Nvidia, mentioned within the assertion.
Nvidia believes Twelve Labs is an thrilling AI firm and appears ahead to working with the crew on quite a few initiatives sooner or later, he mentioned.
Twelve Labs did not present the breakdown of the funding by the 4 corporations.
“Beginning with this funding, we are going to safe a number one place as a key participant within the generative AI market via shut partnerships with international top-tier chipmakers,” Twelve Labs mentioned.
The newest funding comes after the Korean AI startup attracted $17 million from international enterprise capital corporations, together with Index Ventures, in a seed spherical in December final yr.
Twelve Labs, based in 2021, goals to create an infrastructure for multimodal video understanding and assist builders construct packages that may see, hear and perceive the world as people do.
World-renowned AI scholar Fei-Fei Li, who teaches at Stanford College, and Aidan Gomez, chief govt and co-founder of the AI basis mannequin firm Cohere, advise the Korean startup. Cohere competes with Microsoft-backed OpenAI, the developer of the generative AI chatbot ChatGPT, the assertion mentioned.
Twelve Labs has twin headquarters in Seoul and San Francisco.
This file picture supplied by Twelve Labos reveals the corporate’s emblem. (PHOTO NOT FOR SALE) (Yonhap)
kyongae.choi@yna.co.kr
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