AI Coding Startup Magic Raises $320M Led by Eric Schmidt and Atlassian
Magic, an AI startup specializing in automated code generation, secures $320 million in a major funding round backed by Eric Schmidt and Atlassian. The company also partners with Google Cloud and NVIDIA to build next-generation AI supercomputers.
Magic, an artificial intelligence startup focused on generating code and automating software development, raises $320 million in a new funding round. The investment is led by former Google CEO Eric Schmidt, workplace software giant Atlassian, and several other leading investors. This significant financial boost brings the company's total raised capital to $465 million, firmly establishing Magic as one of the top-funded AI coding startups in the industry.
Alongside the funding announcement, Magic reveals a strategic partnership with Google Cloud to construct advanced AI supercomputers. Co-founder and CEO Eric Steinberger expresses enthusiasm about collaborating with both Google and NVIDIA to build this next-generation infrastructure. The startup relies on Google Cloud to provide a fast timeline for scaling and a rich ecosystem of services to support its growing computational needs.
To power its ambitious supercomputer project, Magic integrates NVIDIA's cutting-edge Blackwell system into its operations. Steinberger notes that this specific hardware greatly improves both inference and training efficiency for the company's AI models. By combining this massive new investment with state-of-the-art NVIDIA technology and Google's cloud infrastructure, Magic positions itself to aggressively scale its automated software development tools.