Norwest has announced a $4bn fund, its largest to date, backed exclusively by Wells Fargo.
Its AI investments span applications and infrastructure, including agent-testing tools: recent investment Coval develops tools to test and evaluate AI agents.
Norwest is looking for startups that develop products and services for the consumer, health and technology markets. The company said Thursday it will also increase its investments in areas such as artificial intelligence in physical systems, artificial intelligence for voice, protecting digital systems with self-driving AI programs, and aerospace.
Jeff Crowe, a senior executive at Norwest, told TechCrunch that the company is looking at multiple areas because it sees AI as having the potential to impact many industries. It’s particularly interested in early-stage companies that are designing their applications and infrastructure with AI in mind from the ground up. It’s also looking at AI in physical systems, industry-specific models, and solutions for protecting digital systems.
Two recent investments point in that direction. Coval is developing tools to test and evaluate AI programs that can perform tasks. Generalist AI has developed basic AI models for robots.
↳
READ ALSO
HACKS.GR / RELATED
AI Unlocked
Gemini Live comes to Apple CarPlay for in-car voice chat
↗
Norwest has also invested in Plaid, Spotify, Uber and Vuori. Its 17th investment fund, worth $3 billion, closed in 2024. Since that fund’s launch, the firm has made more than 87 investments.
>Stay connected with Hacks.gr
Set us as a preferred source on Google and find us on social media.
Preferred source
↗
end of article
Top comments (0)