AI Coding Startup Magic Secures $320M Investment from Eric Schmidt, Atlassian & Leading Investors

Magic, an AI startup focused on generating code and automating software development tasks, has raised $320 million in a funding round led by Eric Schmidt, Atlassian, and other investors.

“We are excited to partner with Google and NVIDIA to build our next-gen AI supercomputer on Google Cloud,” Magic co-founder and CEO Eric Steinberger said in a statement. “NVIDIA’s [Blackwell] system will greatly improve inference and training efficiency for our models, and Google Cloud offers us the fastest timeline to scale, and a rich ecosystem of cloud services.”

This latest round brings Magic’s total funding to $465 million, placing it among the top-funded AI coding startups. The company also announced a partnership with Google Cloud to build advanced AI supercomputers, leveraging NVIDIA’s cutting-edge technology to scale its operations.