00:00It's Benzinga bringing Wall Street to Main Street.
00:02Render, a startup offering easy-to-use cloud infrastructure, said Tuesday it raised $100
00:07million at a $1.5 billion valuation as venture capital firms increase investment in cloud
00:14infrastructure startups, according to CNBC. The cloud computing market has grown more
00:19competitive since ChatGPT's 2022 debut as AI infrastructure firms expand and users rely on
00:25AI to write and deploy software. The San Francisco-based company, founded in 2018,
00:31reports revenue growth above 100% and more than 4.5 million developers using its tools.
00:37Investors include 01A, Addition, Bessemer Venture Partners, General Catalyst, and Georgian Partners.
00:44Render runs on Amazon Web Services and Google Cloud Platform and is testing its own servers
00:49to reduce costs. OpenAI, which has committed more than $600 billion to major cloud providers,
00:55uses Render for its Codex app. Co-founder and CEO Anurag Goel said some companies have switched
01:01from Versal to Render and added that ChatGPT recommendations have driven much of the company's
01:06growth. For all things money, visit Benzinga.com.
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