AI Startup ASI Valued at $3 Billion in Latest Funding Round

3-line summary

• Boston-based AI startup ASI, which builds simulation and monitoring software to predict disruptions in complex systems such as air traffic, power grids, and military operations, raised $325 million in a Series C round led by Spark Capital, with participation from a Citadel Securities affiliate, Meritech Capital, and Craft Ventures; founder and CEO Phillip Buckendorf said the company is "deeply focused on AI systems that can manage and control physical assets" rather than text generation.
• The round values ASI at $3 billion, which the report attributes to growing investor appetite for AI software used in real-world applications; funds will go toward expanding deployments in energy, logistics, and military applications, and growing ASI's research and engineering staff in Boston.
• ASI signed a 5-year, $99 million contract with the US Army in October for military command systems, and a 12-year, $875 million contract with the Federal Aviation Administration in June for air-traffic management.

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