Blockchain startup Story raises funds from a16z to stop IP theft by AI [Video]

Generative AI models require huge amounts of training data to enable their systems to produce advanced outputs. But the data that goes into them is often from sources where copyright restrictions are in place.

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San-Francisco-based startup Story said Wednesday that it raised $80 million of funding for a blockchain designed to prevent artificial intelligence makers like OpenAI from taking creators’ intellectual property without permission.

The round values the two-year-old company at $2.25 billion, sources familiar with the matter told CNBC. The sources preferred not to be named as the information has not been made public.

Story said that it raised the funds in a Series B round — typically the third major round of funding in a private startup’s growth journey after seed and Series A — led by Andreessen Horowitz, which is also known as a16z.

Crypto-focused venture capital firm Polychain and Brevan Howard, the investment fund of British …

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