xAI Co-founder's River AI Raises $1.1B to Push Open-Source and Personal AI

On August 11, River AI, founded by xAI co-founder Igor Babuschkin, announced a $1.1 billion funding round led by General Catalyst and AMP PBC, with participation from NVIDIA, AMD Ventures, and others. The company aims to advance open-source models and personal AI, enabling businesses and individuals to own their AI, and has launched its first product, River API.