Foundry, a Palo Alto-based startup specializing in cloud computing services for AI workloads, announced its emergence from stealth mode with a significant funding round. The company, led by former Google DeepMind and Meta veterans, including Jared Quincy Davis, raised $80 million across a seed and Series A funding round. This financial milestone places Foundry's valuation at $350 million. The funding round was co-led by notable investors such as Sequoia, Lightspeed Venture Partners, Redpoint, M12vc, Conviction Investment Partners, and NEA, among others. Foundry's platform is designed to optimize AI model training by leveraging distributed compute services, addressing the compute availability bottleneck in AI adoption. In a related development, CoreWeave, another cloud computing provider focused on artificial intelligence, is reportedly in talks to raise equity capital at a valuation of $16 billion, more than doubling its previous valuation of $7 billion.