Magic

Magic AI, Inc. is an artificial intelligence company founded in 2022 by Eric Steinberger and Sebastian De Ro, headquartered in San Francisco. The company develops frontier-scale code models with the stated goal of building safe AGI by automating both AI research and software engineering at scale.

Magic's flagship research focuses on ultra-long context windows — demonstrated at 100 million tokens — enabling models to reason across entire codebases simultaneously. Its technical stack combines domain-specific reinforcement learning, inference-time computation, and custom supercomputing infrastructure including thousands of NVIDIA GB200 GPUs. The LTM-1 model, released in 2024, established the company's position in long-context code modeling.

Magic raised a $23 million Series A in February 2023, followed by a $117 million Series B in February 2024 led by Nat Friedman, Daniel Gross, CapitalG, and Elad Gil. In August 2024 the company closed a $320 million round backed by Eric Schmidt, Atlassian, Sequoia, and Jane Street, bringing total funding to approximately $515 million as of 2026. The company operates with a team of roughly two dozen engineers and researchers.