Maker of fast AI model Jev raises $870 million
TypeSafe AI, which makes a new kind of AI model called Jev, raised $870 million at a $7.5 billion value, less than a month after launch. Jev gives software quick yes-or-no answers, picks and scores instead of writing text. Andreessen Horowitz led the round.
TypeSafe AI, the startup behind an AI model called Jev, has raised $870 million at a $7.5 billion valuation. The round was led by venture firm Andreessen Horowitz, with Sequoia Capital and existing investor DCVC also taking part, TechCrunch reported.
The deal came less than a month after Jev launched on Sept. 15. The company says a third of Fortune 500 companies already use it.
Jev works differently from chatbots like ChatGPT. It is built on the same basic design as large language models, but it does not write text. Instead, it gives software direct answers it can use right away, TechCrunch reported.
Jev handles three kinds of questions, SiliconANGLE reported. It can answer yes or no, pick one item from a list, or give a score. A company could use it to rank the danger of a security alert or how urgent a support ticket is. Each answer comes with a number showing how sure the model is.
TypeSafe says Jev answers in under 700 milliseconds. It claims Jev is up to 200 times faster than some top AI models and up to 100 times cheaper. Those are the company's own figures. Its published price is $0.042 per million input tokens, and output is free, Unite.AI reported.
Andreessen Horowitz called Jev the fastest-growing model it has seen. The firm said Jev produced 1 trillion tokens in its first three days. Martin Casado, a partner at the firm, is joining TypeSafe's board.
TypeSafe was founded in 2024 by Diogo Almeida, a former OpenAI researcher, along with Sasha Sheng and Erik Gafni. It plans to use the money to build more models and add features for large companies.
What we know: TypeSafe raised $870 million and says many big firms use Jev.
What we don't: How Jev performs outside the company's own tests.
Where outlets agree TechCrunch and SiliconANGLE both report that TypeSafe raised $870 million at a $7.5 billion valuation in a round led by Andreessen Horowitz with Sequoia and DCVC.
Where they differ SiliconANGLE reports TypeSafe's claim that Jev is up to 100 times more cost-efficient than some large models, while Unite.AI cites a company figure of 444.6 times cheaper.