Magic, a leading company in the AI industry, has recently secured an impressive $320 million in its latest funding round. This brings the company’s total funding to an impressive $465 million, solidifying its position as a key player in the AI market.
One of Magic’s most significant recent developments is its partnership with Google Cloud to construct two AI supercomputers. This partnership highlights Magic’s dedication to advancing AI research and development, showcasing their commitment to pushing boundaries in the industry.
Magic’s focus on code generation and software development automation has attracted investments from industry leaders such as former Google CEO Eric Schmidt, Jane Street, Sequoia, and Atlassian. This support from key players in the tech industry further underscores Magic’s position as a powerhouse in the AI field.
The company’s innovative Long-Term Memory (LTM) models are another example of Magic’s cutting-edge technology. These models can reason on up to 100M tokens of context during inference, demonstrating Magic’s commitment to pushing the boundaries of AI capabilities.
Magic’s recent progress includes training the LTM-2-mini model with 100M token context and developing a custom in-context GUI framework for tasks like code synthesis. These advancements showcase Magic’s dedication to improving AI capabilities and pushing the boundaries of what is possible in the field.
Amin Vahdat, VP and GM of ML, Services, and Cloud AI at Google Cloud, has praised Magic’s partnership and highlighted its potential to drive advancements in AI technology. By partnering with Google Cloud to build supercomputers powered by NVIDIA GPUs, Magic has secured new funding to accelerate its AI research and development efforts.
Furthermore, Magic’s commitment to improving AI model performance is evident in their work on evaluating long context models like Needle In A Haystack. By recognizing the unique nature of the “needle” and utilizing methods like HashHop for more accurate results, Magic continues to demonstrate their dedication to pushing the boundaries of AI technology.
Overall, Magic’s recent developments and partnerships highlight the company’s position as a leader in the AI industry. With significant funding, innovative technology, and key partnerships, Magic is well-positioned to continue driving advancements in AI research and development.
