According to a Bloomberg report, Aramco s Prosperity7, a lead investor in the $25 million round for Rain AI, sold its shares in the startup after a review by the Committee on Foreign Investment in the United States.
The deal came as the development of generative AI, boosted by the success of OpenAI s ChatGPT, raises investor interest in companies working on AI-related infrastructure such as AI chips.
The Series B funding round was led by the Singapore-based Temasek, and included the Palo Alto, California venture firm Playground Global and Microsoft.