Venture capitalists are doubling down on Render, a startup offering easy-to-use cloud infrastructure. On Tuesday it said it has raised $100 million in funding at a $1.5 billion valuation.
The lucrative cloud computing world, dominated by Amazon, Microsoft and Alphabet, has become more competitive since the arrival of OpenAI’s ChatGPT assistant in 2022. Companies such as CoreWeave
that rent out Nvidia
graphics cards for training artificial intelligence models have grown into mature businesses. Meanwhile, people are asking AI models to write software for them, and seeking advice on where to run the new programs.
Render is among the beneficiaries of this emerging dynamic. Its revenue growth is well above 100%, and more than 4.5 million developers use its tools, Anurag Goel, its co-founder and CEO, told CNBC in an interview.
