On August 11, River AI, founded by Igor Babuschkin, co-founder of xAI, announced the completion of a $1.1 billion funding round. This round was led by General Catalyst and AMP PBC, with participation from NVIDIA and AMD Ventures, as well as investments from Y Combinator and Temasek. River AI is dedicated to building an open AI technology stack, providing developers and enterprises with tools to train, fine-tune, and deploy their own AI models.