Magic

Magic.dev's mission is to build AI systems that can act as collaborative "coding coworkers," going beyond the capabilities of existing code assistants. Their approach integrates frontier-scale pre-training, domain-specific reinforcement learning, and ultra-long context processing. Notably, their LTM-2-Mini model boasts 100 million token context window, enabling the processing of extensive codebases or large documents efficiently.

As of August 2024, Magic.dev has raised approximately $465 million in funding, including a $320 million round with contributions from investors such as Eric Schmidt, CapitalG (Alphabet's growth fund), Atlassian, Elad Gil, Jane Street, Nat Friedman, Daniel Gross, and Sequoia. The company is reportedly seeking to raise an additional $200 million at a valuation of $1.5 billion.

Operating with a lean team of around 20 employees, Magic.dev utilizes a substantial computing infrastructure, including 8,000 H100 GPUs, to support its research and development efforts.