HomeUSAVisa Launches $100 million Generative AI Ventures Initiative

Visa Launches $100 million Generative AI Ventures Initiative

Visa (NYSE: V), a global leader in payments, launched a new $100m generative AI ventures program.

Led by Visa Ventures, the global corporate investment arm of Visa, the initiative will invest in companies focused on developing generative AI technologies and applications that will impact the future of commerce and payments. Generative AI is an emerging subset of AI that is built on Large Language Models (LLMs) to develop artificial general intelligence capable of generating text, images or other content from large sets of existing data when given prompts.

Led by David Rolf, Visa Ventures has been investing in and partnering with companies driving innovation in payments and commerce since 2007.

Commenting on the launch of the initiative, Rolf said: “With generative AI’s potential to be one of the most transformative technologies of our time, we are excited to expand our focus to invest in some of the most innovative and disruptive venture-backed startups building across generative AI, commerce and payments.

VCWire

03/10/2023