Generative AI software company Zapata AI has agreed to go public on the New York Stock Exchange through a merger with Andretti Acquisition Corp, a special purpose acquisition company (SPAC) owned by American racing legend Michael Andretti. 

Andretti’s SPAC deal is expected to provide up to $84 million to Zapata’s balance sheet, and the new combined company has received a pre-money equity value of $200 million. Boston-based Zapata spun out of Harvard University in 2017, and the company’s AI tools run language and numeric models for partnered clients such as Amazon, Google, IBM, Nvidia, and DARPA. 

Andretti Global, Michael’s racing organization that recently rebranded from Andretti Autosport, has teams across IndyCar, Formula E, and Extreme E that have an existing partnership with Zapata.

Those teams use Zapata’s AI software Orquestra to analyze tire degradation, fuel-saving opportunities, and run predictive models to help improve strategies during races. Racing teams commonly partner with AI companies to get an engineering edge, such as McLaren’s similar deal with DataRobot.

“Zapata AI’s industrial generative AI solutions have demonstrated th

Go to Source to See Full Article
Author: Andrew Cohen

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details