Nvidia’s investment spree in startups that use its AI chips has stoked traditional venture capital firms’ interest in those companies. That has paved the way for brand-new startups taking on Anthropic and OpenAI to raise back-to-back funding rounds, sometimes in a matter of weeks.

In the latest example, Core Automation, an AI model developer founded in late March by ex-OpenAI researcher Jerry Tworek, is aiming to raise between $300 million and $500 million at a valuation of around $4 billion, according to people who have spoken to the company’s leaders. The new fundraise comes just weeks after the company raised $100 million at a $1 billion valuation, some of the people said. Nvidia invested in the earlier round, one of the people said.