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Circuit board design startup Quilter announced on Tuesday it raised $10 million, saying it would use artificial intelligence to reduce the time to design components that power electronics in rockets, computers, smartphones and other devices. The Los Angeles-based company's software uses a form of artificial intelligence similar to what Google employed to defeat a Chinese grand master at the ancient game of Go. Quilter's technology becomes better at building circuit boards over time and the company plans to completely automate the process.

The $10 million Series A round was led by one of Silicon Valley's most storied venture capital firms, Benchmark, which made early bets on eBay, Uber, Snap and Meta Platforms' Instagram. The company did not disclose the valuation.

Quilter raises $10 million for AI-powered circuit board design

Meta's new dividend will be a big payday, but there's another type of shareholder return that will still feature prominently.

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