SoftBank leads $93 million investment in AI startup Petuum

PITTSBURGH: SoftBank Group led a $93-million investment round in a startup that simplifies the process for companies to use machine learning or deep learning applications at scale.

Petuum, based in Pittsburgh, makes AI software that can be used by a variety of industries. For instance, Petuum's health-care software system uses electronic medical records to provide potential disease diagnosis and treatment recommendations.

The startup also makes an operating system that allows customers to use AI applications on hardware, including data centers. The investment from a SoftBank subsidiary will be used to expand Petuum's team and further develop its operating system for specific industries, including manufacturing and health care, the company said Tuesday in a statement.