Infinite Reality Surpasses $15 Billion Valuation After Strategic Acquisition
Metaverse company Infinite Reality has reached a valuation of $15.5 billion following its acquisition of AI firm Touchcast, the company announced on Wednesday, April 16. This $500 million deal marks Infinite Reality’s third acquisition this year and its largest to date.
The purchase of Touchcast brings valuable AI capabilities to Infinite Reality, including advanced artificial intelligence agent offerings. Touchcast’s technology can convincingly replicate individuals’ speech patterns, allowing companies to create digital representations for various purposes, such as investor pitches. According to Edo Segal, Touchcast’s Co-founder and CEO, this technology will provide Infinite Reality users with access to an “infinite universe of agents that occupy different personas and professions,” effectively creating a pool of AI-powered employees.
This acquisition follows closely after Infinite Reality’s announcement to purchase music brand Napster, as part of its broader strategy to establish itself as a key player in both the AI and eCommerce sectors. The company’s aggressive expansion has been supported by a $3 billion investment from an undisclosed backer in January, whose portfolio focuses on global technology and real estate.
The integration of Touchcast’s AI technology is expected to significantly enhance Infinite Reality’s capabilities in the metaverse and beyond. As Infinite Reality CEO and founder John Acunto noted, “Agentic AI is a big part of how consumers and businesses will interact with the web in the future.” This move positions Infinite Reality at the forefront of AI innovation, particularly in creating sophisticated digital interactions.
The acquisition highlights the growing importance of AI in various industries, from ecommerce to digital entertainment. As the technology continues to evolve, companies like Infinite Reality are making strategic investments to stay ahead of the curve.
In related news, the use of AI in retail is becoming increasingly prevalent, with a recent study showing that over 90% of surveyed retailers with annual revenues exceeding $500 million have integrated GenAI into their transaction data workflows. This trend underscores the growing recognition of AI’s potential to transform business operations and customer interactions across multiple sectors.
