AI21 Co-Founder Amnon Shashua Resigns Following Major Layoffs

Professor Amnon Shashua, a co-founder of AI21 Labs, has announced his resignation from both the company and its board amid significant organizational changes. AI21 Labs, founded in 2017 by Shashua alongside Professor Yoav Shoham and entrepreneur Uri Goshen, recently underwent a major restructuring that included laying off over 60% of its workforce, reducing staff from 180 to 70 employees. This shift was part of a strategic refocus announced in May, coinciding with a multi-million dollar agreement with the company Navios.

Since its inception, AI21 Labs has raised approximately $636 million, with its latest funding round (Series D) securing $300 million at a $1.4 billion valuation. This round included investments from major technology firms such as Google, Intel, and Nvidia. Following his departure from AI21, Shashua is concentrating on other ventures, including Mobileye, Manti Robotics (acquired by Mobileye for around $900 million), and a new company called AAI. Founded in late 2023 with Professor Shai Shalev-Shwartz and former doctoral students, AAI focuses on advanced research in computer science, mathematics, and biology.

AAI has recently emerged from stealth mode after completing a substantial funding round led by the American venture capital firm Lightspeed, with additional investments from Dell Capital and Israeli funds Pitango and BRM. This funding elevated AAI to unicorn status, valuing the company at over $1 billion. Shashua's resignation from AI21 marks a significant transition as he shifts his focus to these new high-tech initiatives.