Arcee AI hits $1B valuation with Series B

Open-weight AI model developer Arcee AI has raised at least $150 million in a Series B round led by Vista Equity Partners, Cambium Capital and Emergence Capital, pushing its valuation above $1 billion. Microsoft's M12, Hitachi, Wipro and others also participated. San Francisco-based Arcee developed its Trinity model family, including a 400-billion-parameter flagship, for just $20 million. CEO Mark McQuade aims to close the gap between U.S. and Chinese open-weight AI development. New funds will support next-generation Trinity models and a scientific computing model built with the U.S. Department of Energy.