Netomi closed a $110 million funding round Thursday led by Accenture Ventures, with participation from Adobe Ventures, WndrCo, Silver Lake Waterman, NAVER Ventures, Metis Strategy, and Fin Capital. The San Francisco-based customer service AI startup added Jeffrey Katzenberg, WndrCo managing partner and DreamWorks co-founder, to its board.
The round builds on early backing from AI luminaries including OpenAI co-founder Greg Brockman, Google DeepMind co-founder Demis Hassabis, and Microsoft AI CEO Mustafa Suleyman. According to VentureBeat, the financing highlights a new divide in enterprise AI between companies demonstrating real-world deployment success and those primarily excelling in demonstrations.
Competitive Landscape Intensifies
The customer service AI market has attracted massive investment and fierce competition. Sierra, led by former Salesforce co-CEO Bret Taylor, raised $350 million at a $10 billion valuation in September 2025 and completed three acquisitions in 2026 alone.
Legal AI startup Legora reached a $5.6 billion valuation after crossing $100 million in annual recurring revenue, according to TechCrunch. The Swedish company secured NVIDIA Ventures as a new investor in a $50 million Series D extension, marking the chip giant’s first reported legal AI investment. Legora competes directly with Harvey, which achieved an $11 billion valuation last month when Sequoia tripled down on its investment.
SoftBank Plans $100B AI Spinoff
SoftBank is reportedly planning a $100 billion AI and robotics spinoff focused on data center construction and infrastructure efficiency. The new entity would potentially pursue a U.S. IPO, according to CNBC.
Founder Masayoshi Son has committed tens of billions to AI investments in recent years. The spinoff would leverage robotics to improve AI infrastructure construction efficiency, targeting the massive capital requirements of modern data center development.
Apple Accelerates AI R&D Spending
Apple’s research and development spending hit 10.3% of revenue in the March quarter, as the iPhone maker ramps up AI investments. CNBC reported the increase brings Apple closer to other megacap tech companies on R&D spending ratios.
“That’s a sign that Apple is seeing a sense of urgency around new AI products,” Gene Munster, managing partner at Deepwater Asset Management, told CNBC. The spending surge contrasts with Apple’s historically conservative approach to capital expenditures compared to cloud infrastructure-heavy competitors.
Platform Expansion Beyond Core Services
Uber CEO Dara Khosrowshahi outlined plans to transform the ride-hailing app into a broader travel platform through partnerships and new services. The company partnered with Expedia to enable hotel bookings within the Uber app, while adding services like in-car refreshments and personal shopping.
According to The Verge, Khosrowshahi addressed concerns about AI chatbots potentially displacing Uber’s booking interface, suggesting the company remains open to partnerships while expanding its own platform capabilities.
What This Means
The funding activity reflects enterprise AI’s maturation from proof-of-concept to production deployment. Netomi’s backing by Accenture and Adobe signals confidence in AI customer service solutions that can operate in complex enterprise environments, not just controlled demonstrations.
The legal AI competition between Legora and Harvey, both achieving multi-billion dollar valuations, demonstrates how specialized AI applications can command premium valuations when they prove market fit. NVIDIA’s investment in Legora also shows the chip giant’s strategic expansion beyond hardware into vertical AI applications.
SoftBank’s potential $100 billion spinoff represents the largest AI-focused entity to date, highlighting the massive capital requirements for AI infrastructure development. The move could provide a blueprint for other conglomerates seeking to capitalize on AI investments through public market access.
FAQ
How does Netomi’s $110M round compare to other enterprise AI funding?
While significant, Netomi’s round is smaller than Sierra’s $350M at a $10B valuation. However, Netomi’s backing from enterprise players like Accenture suggests focus on proven deployment rather than pure growth capital.
Why is Apple increasing R&D spending to 10% of revenue?
Apple is accelerating AI product development to remain competitive with Google, Microsoft, and other tech giants. The 10.3% spending ratio brings Apple closer to industry norms while maintaining its focus on integrated hardware-software AI experiences.
What makes SoftBank’s AI spinoff unique at $100B valuation?
The spinoff would be the largest dedicated AI entity by valuation, focusing specifically on infrastructure and robotics rather than software applications. A potential U.S. IPO would provide public market access to SoftBank’s AI portfolio investments.
Related news
- Autonomous Offensive Security Firm XBOW Raises $35 Million – SecurityWeek
- Chinese AI start-up DeepSeek nears $45bn valuation – Financial Times Tech
- Zacks Investment Ideas feature highlights: Microsoft, Alphabet, CoreWeave, Amazon and NVIDIA – Zacks Investment Research – Google News – NVIDIA
Sources
- Netomi raises $110 million as Accenture and Adobe bet on AI for customer service – VentureBeat
- Apple’s R&D investments top 10% of sales as AI race creates ‘sense of urgency’ – CNBC Tech
- SoftBank reportedly weighs $100 billion valuation for new AI and robotics spinout in potential U.S. IPO – CNBC Tech
- Legal AI startup Legora hits $5.6B valuation and its battle with Harvey just got hotter – TechCrunch
