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Canadian Tech Company Acquires AI Startup

Toronto-based Layer 6 AI snapped up by US-based OpenAI

The deal was reportedly worth $100 million in cash and stock

Layer 6 AI, a leading Canadian artificial intelligence startup, has been acquired by OpenAI, a San Francisco-based research company. The deal, which was announced today, is reportedly worth $100 million in cash and stock.

Layer 6 AI was founded in 2016 by a team of experienced AI researchers. The company has developed a number of cutting-edge AI technologies, including a natural language processing platform that can understand and generate human language. OpenAI is a leading research company in the field of artificial intelligence. The company was founded in 2015 by a group of investors, including Elon Musk and Sam Altman. OpenAI's mission is to develop “safe and beneficial” AI.

The acquisition of Layer 6 AI by OpenAI is a significant development in the field of artificial intelligence. It brings together two of the leading companies in the field, and is likely to accelerate the development of new AI technologies.