Bhavish Aggarwal establishes AI start-up to develop large language model
What's the story
Bhavish Aggarwal, the Indian entrepreneur behind ride-hailing giant Ola and electric vehicle start-up Ola Electric, is diving into the world of artificial intelligence (AI) with a new venture.
He has established an AI start-up focused on developing a large language model and is eyeing two US-based AI start-ups for potential acquisitions.
He has also hinted at creating a semiconductor design firm.
New venture
He is in talks to raise $50 million
Aggarwal seems to be serious about his AI start-up. He is in talks to secure over $50 million in funding for this AI project.
However, it is unclear what he plans to do about the semiconductor project. It may or may not be part of the same AI venture.
Aggarwal is yet to say anything about his new plans.
Details
Investors are wary of Ola founder's aggressive expansions
Aggarwal has a history of exploring various sectors. AI and semiconductor designing are his latest areas of interest.
However, his aggressive expansion into unrelated fields and their subsequent corporate structures have sometimes unsettled his investors.
For instance, some Ola backers were unhappy about not receiving a stake in Ola Electric when it spun out of the ride-hailing company.