Magic

Develops AI models for code generation

San Francisco, California, United States

About Magic

Magic.dev develops advanced code generation models that act as virtual coworkers for software developers. These models are designed to understand and generate code, streamlining the software development process. Unlike traditional coding tools that only assist programmers, Magic.dev's technology collaborates with users, enhancing productivity and efficiency. The company differentiates itself by focusing on proprietary AI models that require extensive research and development, utilizing complex architectures and large datasets. Magic.dev offers its solutions through subscription and licensing agreements, allowing clients to integrate their technology into existing systems. The goal of Magic.dev is to push the boundaries of AI in software development, making coding faster and more efficient for tech companies and enterprises.

San Francisco, CaliforniaHeadquarters
2022Year Founded
$452.3MTotal Funding
LATE_VCCompany Stage
AI & Machine LearningIndustries
11-50Employees

Risks

Increased competition from well-funded AI startups like OpenAI and Anthropic.
Rapid AI model development may lead to obsolescence of Magic's current models.
High infrastructure costs could strain Magic's financial resources.

Differentiation

Magic creates a virtual coworker for collaborative coding, unlike traditional code tools.
Magic's AI models generate complete code from natural language descriptions.
Magic focuses on frontier-scale AI models, investing heavily in R&D.

Upsides

Magic's partnership with Google accelerates innovation and infrastructure development.
Growing demand for AI-driven solutions in fintech opens new market opportunities for Magic.
AI-powered code generation tools are increasingly integrated with popular development environments.