Visa Plans To Invest $100 Mln In Generative AI Companies

(RTTNews) - Visa (V) plans to invest $100 million in the next generation of companies focused on developing generative AI technologies and applications that will impact the future of commerce and payments. The investments will be made through Visa Ventures, the company said in a statement on Monday.

Visa said it considers the initiative an extension of its leadership in using AI to drive innovation in payments, create value for partners and clients, and enable and empower global commerce.

Generative AI is an emerging subset of AI that is built on Large Language Models (LLMs) to develop artificial general intelligence capable of generating text, images or other content from large sets of existing data when given prompts.