Latest news with #HarmonicAI
Business Insider
4 days ago
- Business
- Business Insider
Robinhood (HOOD) CEO Vlad Tenev's AI Math Start-Up Is Valued at $875 Million
Harmonic AI, an artificial intelligence start-up co-founded by Robinhood Markets (HOOD) CEO Vlad Tenev, has raised $100 million in new funding based on an $875 million valuation. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. The start-up company is focused on improving a subject that often confounds AI models and applications: mathematics. The latest Series B funding round values Harmonic AI at $875 million, said Tenev, who serves as the company's executive chairman. Founded in 2023 by Tenev and company CEO Tudor Achim, Silicon Valley-based Harmonic AI is focused on building AI systems that can solve complex math problems, creating what the company refers to as 'mathematical superintelligence.' Harmonic plans to make its AI model called 'Aristotle' available to researchers and the general public by year's end. Solving Math Problems 'The near-term goal is to build an AI that solves math problems at a level that is superior to any human,' said Tenev in a recent media interview. 'The ultimate goal would be to solve major unsolved mathematical problems and expand that to problems in physics and computer science.' Tenev said privately held Harmonic's mathematics approach should give it an advantage over large language models, which underpin AI chatbots and are generally not as adept at solving complicated math equations. Harmonic also seeks to eliminate the issue of AI hallucinations, which is when a chatbot makes up information. Harmonic AI previously raised $75 million in a funding round. HOOD stock has gained 164% this year. Is HOOD Stock a Buy? The stock of Robinhood Markets has a consensus Moderate Buy rating among 21 Wall Street analysts. That rating is based on 15 Buy, five Hold, and one Sell recommendations issued in the last three months. The average HOOD price target of $79.85 implies 15.54% downside from current levels.
Los Angeles Times
4 days ago
- Business
- Los Angeles Times
Robinhood CEO's AI math startup valued at nearly $900 million
Harmonic AI, an artificial intelligence startup co-founded by Robinhood Markets Inc. Chief Executive Officer Vlad Tenev, has raised $100 million in funding to tackle a problem that has sometimes confounded AI models: math. The Series B funding round was led by Kleiner Perkins, with participation from Sequoia Capital, Index Ventures and Paradigm. The deal values the AI startup at $875 million, said Tenev, who serves as the company's executive chairman, a non-operating role. Harmonic's CEO is Tudor Achim, who previously led autonomous driving startup Founded in 2023 by Tenev and Achim, the Palo Alto, California-based startup aims to build AI systems that can solve complex math problems, creating what the company refers to as mathematical superintelligence. Harmonic plans to make its flagship AI model, Aristotle, available to researchers and the general public later this year. 'The near-term goal is to build an AI that solves math problems at a level that is superior to any human,' Tenev told Bloomberg News. 'The ultimate goal would be to solve major unsolved mathematical problems and expand that to problems in physics and computer science.' Tenev said Harmonic's math-first approach should give it an advantage over large language models, which underpin AI chatbots and are generally not as adept at solving complicated math problems. Harmonic also seeks to eliminate the issue of hallucinations, or when a chatbot makes up information, by relying on formal verification, a mathematical method used to guarantee an AI system functions correctly. 'We can ensure that every piece of output and every step in our model's reasoning is verifiably correct,' Tenev said. 'That is just a very different approach to building AI models that I think is going to be the approach that dominates in the future.' Harmonic previously raised $75 million from Sequoia and Index. Its new funding round gives the company a valuation just under the $1 billion threshold that would make it a 'unicorn.' Tenev said that was an intentional choice. 'You never want to take the highest offer,' said Tenev, who raised billions in funding for Robinhood before the stock-trading service's 2021 initial public offering. 'Optimizing for valuation is never the right choice.' Clark writes for Bloomberg.
South China Morning Post
5 days ago
- Business
- South China Morning Post
Robinhood CEO's AI maths start-up valued at US$875 million, just shy of unicorn status
Harmonic AI, an artificial intelligence start-up co-founded by Robinhood Markets chief executive officer Vlad Tenev, has raised US$100 million in funding to tackle a problem that has sometimes confounded AI models: maths. The series B funding round was led by Kleiner Perkins, with participation from Sequoia Capital, Index Ventures and Paradigm. The deal valued the AI start-up at US$875 million, said Tenev, who serves as the company's executive chairman, a non-operating role. Harmonic's CEO is Tudor Achim, who previously led autonomous driving start-up Founded in 2023 by Tenev and Achim, the Palo Alto, California-based start-up aims to build AI systems that can solve complex maths problems, creating what the company refers to as mathematical superintelligence. Harmonic plans to make its flagship AI model, Aristotle, available to researchers and the general public later this year. 'The near-term goal is to build an AI that solves maths problems at a level that is superior to any human,' Tenev said. 'The ultimate goal would be to solve major unsolved mathematical problems and expand that to problems in physics and computer science.'
Bloomberg
5 days ago
- Business
- Bloomberg
Robinhood CEO's AI Math Startup Valued at Nearly $900 Million
Harmonic AI, an artificial intelligence startup co-founded by Robinhood Markets Inc. Chief Executive Officer Vlad Tenev, has raised $100 million in funding to tackle a problem that has sometimes confounded AI models: math. The Series B funding round was led by Kleiner Perkins, with participation from Sequoia Capital, Index Ventures and Paradigm. The deal values the AI startup at $875 million, said Tenev, who serves as the company's executive chairman, a non-operating role. Harmonic's CEO is Tudor Achim, who previously led autonomous driving startup
