AI21 Labs has raised $64 million in a funding round to help it compete against OpenAI and other NLP leaders.

Competition in NLP (Natural Language Processing) is heating up. OpenAI is currently seen as the industry leader with its GPT-3 model but rivals are gaining traction.

Investors see AI21 Labs as one of the most promising contenders.

"We completed this round during a period of market uncertainty, which highlights the confidence our investors have in AI21's...