Google launches fund to invest in AI startups

Google has announced the creation of the AI Futures Fund, an investment fund aimed at supporting startups that implement artificial intelligence tools developed by Google DeepMind, TechCrunch reports.

The fund will work with startups from seed to late-stage and will offer varying levels of support. Google may provide founders with early access to Google AI models from DeepMind, opportunities to work with experts from DeepMind and Google Labs, and loans for Google Cloud. Some startups may also receive direct investment from the company.

"The AI Futures Fund doesn’t follow a batch or cohort model. Instead, we consider opportunities on a rolling basis — there’s no fixed application window or deadline. When we come across companies that align with the fund’s thesis, we may choose to invest. We’re not announcing a specific fund size at this time, and check sizes vary based on the company’s stage and needs — typically early to mid-stage, with flexibility for later-stage opportunities as well," a Google spokesperson said.

The AI Futures Fund already has a few use cases – meme-making platform Viggle and cartoon-making app Toonsutra. Other startups that want to try to get Google support can apply on the official AI Futures Fund website.

We remind you that in September 2024, Google CEO Sundar Pichai announced the creation of a global fund to support educational initiatives in the field of artificial intelligence. It was called the Global AI Opportunity Fund, and its size is $120 million.