Official announcements from Magic or reports from reputable financial news sources like Reuters or Bloomberg

AI Coding Startup Magic Seeks $1.5B Valuation, $200M in New Funding Round

Jul 2, 2024, 09:25 PM

AI coding startup Magic is seeking a $1.5-billion valuation in a new funding round, according to sources. The US-based company, which develops AI models for coding tasks, is in talks to raise over $200 million. This funding round, reported by Reuters, marks a significant step for Magic as it aims to expand its capabilities in the generative AI coding assistant market.