AI Coding Startup Poolside Secures $500M in Series B Funding

• AI software development platform, Poolside, has raised $500M in a Series B round led by Bain Capital Ventures.
• The funding round saw participation from eBay and Nvidia, among others, bringing Poolside's total funding to $626M and its valuation to $3B.
• Poolside, founded by former GitHub CTO Jason Warner and software engineer Eiso Kant, develops AI models to assist with tasks like autocompleting code.
• The new funding will be used to bring 10,000 Nvidia GPUs online for future model training and to bolster the company's go-to-market and R&D efforts.
• Despite concerns, developers are showing enthusiasm for AI-powered assistive coding tools, with the market projected to be worth $27B by 2032.

Source: Techcrunch