# Visa launches $100 million venture fund for generative AI startups
Published: 2023-10-03
Category: Headlines
Category URL: https://blockchaintribune.com/category/headlines/
Meta Title: Visa Launches $100 Million Fund for Generative AI Startups
Meta Description: Join Visa's $100M generative AI venture fund to innovate commerce with cutting-edge AI technology. Microsoft, Google, and others are already onboard.
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URL: https://blockchaintribune.com/visa-launches-100-million-venture-fund-for-generative-ai-startups/

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## Visa launches $100 million venture fund for generative AI startups   (Reuters) – Payments processor Visa on Monday launched a $100 million [venture](https://blockchaintribune.com/totalenergies-china-three-gorges-to-form-electric-mobility-venture-in-china/) fund for generative artificial intelligence (AI) startups, joining a list of investors who have flocked to the sector this year.    Several high-profile names such as Microsoft and Alphabet’s Google have backed the AI space, a buzzword in [technology](https://blockchaintribune.com/blockchain-technology-companies/) circles this year, after chatbot ChatGPT’s popularity.    “While much of [generative](https://blockchaintribune.com/what-is-generative-ai-the-technology-behind-openais-chatgpt/) AI so far has been focused on tasks and content creation, this technology… will also meaningfully change commerce in ways we need to understand,” Visa’s chief product and strategy officer, Jack Forestell, said in a statement.    Generative AI is a technology that creates brand new content based on what it has learnt from past data.        (Reporting by Niket Nishant in Bengaluru; Editing by Shilpi Majumdar)


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