For the last three years, AI labs like OpenAI, Anthropic and xAI have sucked up a lot of investor attention—as well as nosebleed valuations. Now a growing number of startups that make apps, agents or other software powered by AI are fetching valuations of $20 billion or higher. Applied Intuition, a maker of software to train self-driving vehicles, is slated to join this club. Applied Intuition has received investment offers that would value it at least $30 billion, according to people who have spoken to company leaders. The offers are likely to encourage the company to raise at least $1 billion in the next few months, they said.
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