Pinecone

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Humans are not all-knowing, but we are able to search through textbooks, online databases, and encyclopedias to find out an almost limitless amount of information. Similarly, when users ask for information not hard coded into an AI model, the model needs to do its own research. This is where Pinecone and vector databases come into play. For every AI application worth its salt, founder and CEO Edo Liberty says, is an accompanying database it can ping to get information on, for example, the current price of Apple’s stock or nonpublic data on a bank’s roster of customers. Pinecone develops the infrastructure for companies big and small, including Microsoft and CVS, to create their own vector databases to give their AI models what it calls “long-term memory.” In its first year of operations after launching in early 2022, Pinecone grew its customer base from zero to 170 and generated more than $2 million in sales, Liberty says. And in April 2023 it raised $100 million at a valuation of $750 million, bringing the total amount of funds the San Francisco–based startup raised to $138 million, according to Crunchbase.

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