River AI, a startup founded just two months ago, has raised $1.1 billion in its initial funding round, valuing the company at approximately $5 billion. The round is led by General Catalyst and Amp PBC, with participation from NVIDIA and AMD’s venture arms. The company, incorporated in Nevada on April 20, 2026, is co-founded by Igor Babuschkin, a former researcher at OpenAI, DeepMind, Tesla, and xAI, who is committing up to $100 million of his own money. River AI currently has no product on the market, no revenue, and no publicly demonstrated technology, but aims to develop personal AI agents allowing each user to own and evolve their own AI systems.
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