Magic AI Startup Raises $320M with Investment from Ex-Google CEO Eric Schmidt
Magic, a leading AI startup revolutionizing software development, recently secured $320 million in funding from notable investors, including ex-Google CEO Eric Schmidt. This brings Magic's total raised funds to a staggering $465 million, propelling it to the forefront of AI coding startups.
In a blog post, Magic announced a groundbreaking partnership with Google Cloud to build two cutting-edge "supercomputers" equipped with Nvidia GPUs. These supercomputers, named Magic-G4 and Magic-G5, will enhance the efficiency of Magic's AI models and accelerate their training and inference capabilities.
Magic's co-founder and CEO, Eric Steinberger, expressed his excitement about the partnership, highlighting the benefits of Nvidia's advanced technology and Google Cloud's scalability. Steinberger's vision for Magic stems from his early interest in AI, which led him to pursue a career in computer science and eventually co-found Magic in 2022.
Magic's AI-driven tools empower software engineers to streamline their coding processes by providing automated assistance in writing, reviewing, debugging, and planning code changes. One of Magic's key innovations lies in its models' ultra-long context windows, allowing them to analyze vast amounts of data and generate precise outputs.
Magic's latest model, LTM-2-mini, boasts a remarkable 100 million-token context window, surpassing all other commercial models in the industry. This extensive context window enables Magic to tackle complex coding tasks, such as implementing a password strength meter and creating custom UI frameworks with ease.
As Magic continues to expand and refine its AI capabilities, the company is poised to revolutionize the software development landscape and empower engineers to achieve new levels of productivity and efficiency. Investors and tech enthusiasts alike are eagerly anticipating the next breakthroughs from Magic as they pave the way for the future of AI-driven coding tools.