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Mayfield launches $250M AI Start seed fund

Mayfield has announced AI Start, a $250 million seed fund for AI startups. The AI Start team will run a quick process to evaluate new investments, with typical check sizes ranging from $1 million to $4 million, according to Mayfield.

AI Start complements Mayfield’s classic primarily Series A focused fund, the $580 million Mayfield XVII, and its $375 million Mayfield Spring/Select III fund.

In another development, Mayfield has appointed Vijay Reddy as a dedicated AI Start Seed Fund partner.

Just in

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.