Mexican fintech Kapital raises funds, valuation $1.3B, plans AI platform to rival ChatGPT

Mexican fintech Kapital completed a funding round that values the company at $1.3 billion, and announced plans to develop an AI platform it claims will rival ChatGPT. The claim of rivaling ChatGPT is unverified and likely aspirational; the core development is the funding and valuation milestone. This signals growing AI investment in Latin America, but the competitive threat to established AI models is uncertain.