Venture capitalists have long flaunted their ties with startup founders. Lately they have been touting a different relationship: their connections with the biggest providers of artificial intelligence chips.
VC partners competing to win sought-after investments in AI startups have been highlighting their relationships with Amazon, Microsoft and Google, which can give startups access to servers equipped with hard-to-get chips known as graphics processing units for developing AI software. Some firms, such as Greylock Partners, Bessemer Venture Partners and Madrona, say they’ve been using their contacts at the big cloud firms to get access to the elusive AI hardware. Others have gone further, purchasing access to thousands of GPUs for their portfolio companies.
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