OpenAI buys Rockset to bolster its enterprise AI – TechCrunch
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OpenAI has acquired Rockset, which builds tools to drive real-time search and data analytics.
In a post on its official blog, OpenAI said that it would integrate Rockset’s technology to “power [its] infrastructure across products.” Members of Rockset’s team will join OpenAI, and Rockset’s existing customers will be transitioned off of Rockset’s platform “gradually.”
The financial terms weren’t disclosed.
“Rockset’s infrastructure empowers companies to transform their data into actionable intelligence,” OpenAI COO Brad Lightcap said in a statement. “We’re excited to bring these benefits to our customers by integrating Rockset’s foundation into OpenAI products.”
Rockset, which was co-founded in 2016 by ex-Facebook engineers Venkat Venkataramani and Tudor Bosman and database architect Dhruba Borthakur, created tools that allowed companies to automatically ingest data from databases and public cloud storage services and then index that data for search and analytics applications.
Rockset’s database platform underpinned things like recommendation engines, logistics-tracking dashboards and — especially relevant to OpenAI — chatbots in domains such as fintech and e-commerce.
Rockset managed to raise over $117.5 million in capital from investors including Icon Ventures, Sequoia and Greylock prior to the acquisition, according to Crunchbase data. It also had name-brand customers including Meta and JetBlue, which used Rockset as a component of its flight delay predictions chatbot.
So what might OpenAI build with Rockset’s tech? Well, the blog post mentions allowing companies to “better leverage their own data” and “access real-time information” as they use OpenAI products. One can imagine improved tooling to “ground” OpenAI’s models on a company’s data, perhaps toward reducing hallucinations or fine-tuning the model for any number of business use cases.
Venkataramani gives a preview in the blog post accompanying the announcement:
“Advanced retrieval infrastructure like Rockset will make AI apps more powerful and useful,” he writes. “Rockset will become part of OpenAI and power the retrieval infrastructure backing OpenAI’s product suite. We’ll be helping OpenAI solve the hard database problems that AI apps face at massive scale.”
The Rockset buy fits into OpenAI’s broader recent strategy of investing heavily in its enterprise sales and tech orgs.
In May, OpenAI signed an agreement with PwC to resell OpenAI’s tools to other businesses. The month before, the company launched a business-oriented custom model tuning and consulting program.
The moves appear to be paying dividends, with OpenAI’s annualized revenue reportedly set to eclipse $3.4 billion this year. OpenAI recently disclosed that the enterprise tier of its viral AI-powered chatbot platform, ChatGPT, had close to 600,000 users, which includes 93% of all Fortune 500 companies.
Rockset is only OpenAI’s second public acquisition after Global Illumination, a New York-based startup tapping AI to build creative tools and infrastructure.
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OpenAI has acquired Rockset, which builds tools to drive real-time search and data analytics.
In a post on its official blog, OpenAI said that it would integrate Rockset’s technology to “power [its] infrastructure across products.” Members of Rockset’s team will join OpenAI, and Rockset’s existing customers will be transitioned off of Rockset’s platform “gradually.”
The financial terms weren’t disclosed.
“Rockset’s infrastructure empowers companies to transform their data into actionable intelligence,” OpenAI COO Brad Lightcap said in a statement. “We’re excited to bring these benefits to our customers by integrating Rockset’s foundation into OpenAI products.”
Rockset, which was co-founded in 2016 by ex-Facebook engineers Venkat Venkataramani and Tudor Bosman and database architect Dhruba Borthakur, created tools that allowed companies to automatically ingest data from databases and public cloud storage services and then index that data for search and analytics applications.
Rockset’s database platform underpinned things like recommendation engines, logistics-tracking dashboards and — especially relevant to OpenAI — chatbots in domains such as fintech and e-commerce.
Rockset managed to raise over $117.5 million in capital from investors including Icon Ventures, Sequoia and Greylock prior to the acquisition, according to Crunchbase data. It also had name-brand customers including Meta and JetBlue, which used Rockset as a component of its flight delay predictions chatbot.
So what might OpenAI build with Rockset’s tech? Well, the blog post mentions allowing companies to “better leverage their own data” and “access real-time information” as they use OpenAI products. One can imagine improved tooling to “ground” OpenAI’s models on a company’s data, perhaps toward reducing hallucinations or fine-tuning the model for any number of business use cases.
Venkataramani gives a preview in the blog post accompanying the announcement:
“Advanced retrieval infrastructure like Rockset will make AI apps more powerful and useful,” he writes. “Rockset will become part of OpenAI and power the retrieval infrastructure backing OpenAI’s product suite. We’ll be helping OpenAI solve the hard database problems that AI apps face at massive scale.”
The Rockset buy fits into OpenAI’s broader recent strategy of investing heavily in its enterprise sales and tech orgs.
In May, OpenAI signed an agreement with PwC to resell OpenAI’s tools to other businesses. The month before, the company launched a business-oriented custom model tuning and consulting program.
The moves appear to be paying dividends, with OpenAI’s annualized revenue reportedly set to eclipse $3.4 billion this year. OpenAI recently disclosed that the enterprise tier of its viral AI-powered chatbot platform, ChatGPT, had close to 600,000 users, which includes 93% of all Fortune 500 companies.
Rockset is only OpenAI’s second public acquisition after Global Illumination, a New York-based startup tapping AI to build creative tools and infrastructure.
Every weekday and Sunday, you can get the best of TechCrunch’s coverage.
Startups are the core of TechCrunch, so get our best coverage delivered weekly.
The latest Fintech news and analysis, delivered every Tuesday.
TechCrunch Mobility is your destination for transportation news and insight.
By submitting your email, you agree to our Terms and Privacy Notice.
Featured Article
Investors are betting on Indian wealthtech startups as a growing middle class turns to diversify investments and startups challenge traditional financial advisors for high-net-worth clients. Premji Invest is in advanced stages of talks to lead a funding round of $30 million to $40 million in Dezerv, an app offering a…
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Three companies with new funds deploy capital to support seed and Series A VCs looking to exercise their pro rata rights.
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CIOs trying to govern generative AI have the same concerns they had about cloud computing 15 years ago, but they’ve learned some things along the way.
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Roll20 said that on June 29 it had detected that a “bad actor” gained access to an account on the company’s administrative website for one hour.
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This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
