River AI, founded by an xAI co-founder, raises $1.1 billion

River AI, the startup founded by xAI co-founder Igor Babuschkin, has raised $1.1 billion to expand tools that let companies build and run custom AI models on their own data. The round was led by General Catalyst and AMP PBC, with strategic investments from Nvidia and AMD Ventures and participation from Y Combinator and Temasek. The funding underscores strong investor demand for enterprise AI tools that promise more control, customization, and lower costs than relying on general-purpose models from major labs.