Eric Steinberger Net Worth: Magic Dev – AI Models Coding Platform

Eric Steinberger is a computer scientist and the co-founder and chief executive officer (CEO) of Magic.dev. Magic Dev is an artificial intelligence startup focused on creating a powerful “superhuman software engineer”. The company aims to significantly increase developer productivity and potentially pave the way for Artificial General Intelligence (AGI). This AI would understand natural language, collaborate on complex coding tasks, and even generate code itself. The startup is valued at around $500 million. 

Before this, Eric Steinberger founded ClimateScience, a learning platform to educate people on climate change and related topics. He also worked as a Researcher for Facebook AI. 

This article will look into Eric Steinberger’s net worth, education, career, and more. 

Eric Steinberger Net Worth

Unfortunately, we could not any information available on Eric Steinberger’s net worth. We will update this section as soon as we come across any reliable information. 

However, Steinberger is new to entrepreneurship, hence, not a lot of information is available in the public domain. As his companies grow, we can expect to learn more about the computer scientist and entrepreneur.

Education

Eric Steinberger attended high school from 2013 to 2018. He went to HTL Spengergasse.

In September 2018, Eric enrolled in the Computer Science program at Trinity College, Cambridge, part of the prestigious University of Cambridge. His time at the university provided him with valuable experiences and connections. 

However, after one year, in February 2020, he decided to drop out. He chose to focus more intensively on AI research and dedicated his efforts to running ClimateScience.org, his passion project at the time.

Career

Eric Steinberger’s career began in August 2015 when he joined Demner, Merlicek & Bergmann in Vienna as a 3D Design & Animation Intern. During this one-month internship, he created animation for a TV ad that aired nationally for several months.

In 2017, he took on the role of Research Assistant at the University of Luxembourg. There, he focused on applying Reinforcement Learning to the Flexible Job Shop Scheduling Problem (FJSSP). There, he honed his skills in optimization and deepened his understanding of complex computational challenges.

Following this, Eric Steinberger was a Student Researcher in Robotics at the Technische Universität Wien in Vienna. Here, he worked on a project called “smART,” a robotic artist, which involved developing a robot capable of creating paintings. Although he found the project enjoyable, he humorously noted that it was not particularly practical.

Then, a year later, Eric joined the Massachusetts Institute of Technology (MIT) as a Student Researcher in Economics & Agriculture. Over the course of four months, he applied game theory to microfinance. He particularly focused on supporting smallholder farmers in rural Africa in purchasing fertilizers and other agricultural inputs.

Shortly after, he worked as a Researcher in Deep Reinforcement Learning at Facebook AI. During this five-month contract, he led the development of “DREAM,” an algorithm that was 100 times more data-efficient and trained faster than the previous state-of-the-art in model-free multi-agent Deep Reinforcement Learning. His work on this project resulted in a published paper.

Eric co-founded ClimateScience in August 2019. He also served as the startup’s CEO until 2022. ClimateScience is a platform dedicated to empowering millions of people with education on climate change. After stepping down as CEO to focus on new ventures, Eric continued to contribute as the Chair of the Board.

In March 2022, Eric took on the role of Co-founder & CEO at Magic.dev, based in the San Francisco Bay Area. At Magic.dev, he leads efforts to build aligned and comprehensive AI systems designed to accelerate humanity’s progress on critical global issues. 

Under his leadership, the company has garnered substantial backing, raising $145 million from prominent investors, including Nat Friedman, Daniel Gross, Alphabet’s CapitalG, Elad Gil, and Amplify Partners.

Latest Updates

Magic Dev recently secured a significant $320 million investment. The investors included former Google CEO Eric Schmidt, Atlassian, Alphabet’s CapitalG, and others. This funding round brings the company’s total raised capital to $465 million.

The startup is also partnering with Google Cloud to build two supercomputers, Magic-G4 and Magic-G5, leveraging Nvidia’s advanced GPUs. These supercomputers are designed to significantly enhance the efficiency of AI model training and inference.

FREQUENTLY ASKED QUESTIONS

Who is Eric Steinberger, the CEO?

Eric Steinberger is the co-founder and CEO of Magic Dev, a generative AI platform. Steinberger founded the startup in 2022 with Sebastian De Ro. 

What is the valuation of Magic Dev?

Magic Dev, the generative AI startup working on artificial general intelligence was last valued at $500 million. It is now seeking a valuation of $1.5 billion in the coming investment rounds.