Parag Agarwal, the former CEO of X (previously Twitter), is embarking on a new entrepreneurial journey following his departure from the social media giant. Agarwal, who was ousted by Elon Musk in October 2022 after Musk’s acquisition of the company, is now focused on building his own startup in the field of artificial intelligence (AI).
While the specific details and name of the startup have not been disclosed, insiders report that Agarwal’s venture will specialize in developing software for large language models (LLMs) used by developers. This places his new initiative in direct competition with established chatbot platforms like OpenAI’s ChatGPT and Google’s Bard.
To fuel his AI ambitions, Agarwal has successfully raised approximately $30 million (₹249 crore) in a recent funding round. Leading the investment is Khosla Ventures, a well-known early supporter of OpenAI. Index Ventures and First Round Capital have also joined the deal, demonstrating their confidence in Agarwal’s vision.
Agarwal’s departure from X (formerly known as Twitter) was met with intrigue and speculation. According to Elon Musk’s biography by Walter Isaacson, Musk sought a “fire-breathing dragon” for the CEO role, a characterization he believed did not apply to Agarwal. Musk’s decision to take over as CEO himself and subsequently appoint Linda Yaccarino as the incumbent chief executive further fueled curiosity.
As Parag Agarwal embarks on this new endeavor, he joins the ever-growing community of entrepreneurs and innovators in the AI industry. With his impressive background and the backing of prominent investors, the industry eagerly awaits the unveiling of Agarwal’s new AI startup and the impact it will make in the evolving landscape of artificial intelligence.
The source of the article is from the blog japan-pc.jp