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No venture capital firm wants to be left behind when it comes to the exploding world of AI.

On the same day San Francisco-based released its , said it will commit more than $1 billion to investing in AI-powered enterprise technology startups 鈥� including those in the generative AI space.

Sapphire is not new to the AI world. The firm said it has deployed $2.4 billion across 60 AI-focused companies to date, including startups , and .

The new commitment will encompass all areas of the AI tech stack, including foundation models, middleware and AI applications.

鈥淪apphire has been backing AI startups for more than a decade, so we鈥檝e seen many evolutions of the technology,鈥� , the firm鈥檚 president, partner and co-founder, said in a . 鈥淢ost recently, we鈥檝e experienced a huge paradigm shift driven by GenAI and LLMs, which is transforming how we work and live. This next AI wave will replace task-specific models that have dominated the AI landscape to-date.鈥�

More money

Of course, Sapphire is far from the only firm looking to put more cash into the AI space, which has seen tens of billions invested since with 鈥檚 unveiling of artificial intelligence tools late last year.

Just last month, founder told investors the firm will shift from 鈥渄efense mode鈥� to 鈥渙ffense mode鈥� and is looking at being the leader in the AI revolution.

The AI space is not a cheap one, however. Generative AI companies have raised huge rounds, starting in January with OpenAI鈥檚 reportedly $10 billion deal with .

Others have followed since, including San Francisco-based , which raised a $350 million Series B at a post-money valuation of at least $1 billion in March. In May, Anthropic raised a $450 million Series C that reportedly valued the company at $5 billion.

In late June 鈥減ersonal AI鈥� startup nabbed a huge $1.3 billion round led by Microsoft, , , and new investor . The round valued Inflection AI at $4 billion, .

That is only a small sampling of the dozens of deals that have occurred 鈥� with more on the way.

Further reading:

• SoftBank Shifting Back To 鈥極ffense鈥� When It Comes to Investing 鈥� Thanks To AI
• 鈥楨xcited鈥� And 鈥楽cary鈥�: After Sizzling First Half, Don鈥檛 Expect AI Investment To Cool Off
• AI Funding Explosion: Inflection AI Nabs $1.3B, Runway And Typeface Also Raise Big

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