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Foundry Technologies, a startup in discussions to raise funds at a $350 million valuation, is planning to offer server rentals for AI software to businesses, as per two individuals familiar with the matter. What might be surprising is that Foundry's valuation has already surged sevenfold in just nine months, given that it was valued at roughly $50 million during its seed round in late year. This trend of rapidly increasing valuations in successive funding rounds, particularly in the AI startup sector, is a risky yet resurfacing phenomenon in the current pandemic era.
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