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AI Funding Frenzy Escalates



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The blooming flowers include Dust, a start-up founded by former employees of OpenAI. Dust is nearing a $5 million funding round led by Sequoia Capital that will value it at $30 million to $40 million, two people with knowledge of the situation said. The round was competitive, with term sheets offering valuations as high as twice that, one of the people said.Perplexity AI, a start-up created by former employees of OpenAI, Google and Meta, is raising $20 million to $25 million, led by NEA, that values the company at about $150 million, two people familiar with the si …

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