Petuum Closes $93 Million in Series B Funding Led by SoftBank

PITTSBURGH, PA – October 10, 2017 – Petuum, Inc., a machine learning (ML) infrastructure platform, has closed $93 million in Series B funding led by a subsidiary of SoftBank Group Corp. (“SoftBank”), with participation from previous investor Advantech Capital. Petuum has raised a total of $108 million, making it one of the best-funded early-stage AI startups. Despite all the hype about machine […]

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Pittsburgh’s Pivot to Artificial Intelligence

When the steel mills shut down, America’s Rust Belt cities struggled to deal with stagnant economies, stale industries, and deteriorating infrastructures. Its strength in education and healthcare was all that saved Pittsburgh, Pennsylvania from bankruptcy. Some 30 years later, buzzwords like “maker”, “tech”, and “innovation” scroll across screens at Pittsburgh International Airport, heralding the city’s […]

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Chinese Investors are Fascinated by Pitt’s Tech Boom

Figure 1. Carnegie Mellon University hosted CMU-Summit on US-China Innovation and Entrepreneurship on April 14-15 on main campus in Pittsburgh, PA. Rui Ma is a known Chinese investor from FreesFund, a Shanghai-based venture capital firm focused on cross-border tech startups. Since graduating from Carnegie Mellon University, where he earned a doctorate in computer science five […]

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