By Manya Saini and Niket Nishant(Reuters) -Genesys said on Monday it has confidentially filed for an initial public offering in the United States, becoming the latest tech firm to bet on the booming AI market to attract investors. The move comes as the IPO market recovers with investors once again turning warmer towards tech startups that they had shunned for over two years due to concerns around lofty valuations. In December 2021, Genesys raised $580 million in a funding round led by Salesforce Ventures, valuing it at $21 billion. Genesys was acquired by private equity firm Permira Holdings from Alcatel-Lucent in 2012, valuing the company then at about $1.5 billion. Cerebras Systems, a startup competing with industry leader Nvidia for a slice of the lucrative AI chip market, also filed for a U.S. IPO late last month.

Source: Ethiopian News October 21, 2024 17:06 UTC