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All Hands AI has raised $5 million in seed funding led by Menlo Ventures, aiming to develop a model-agnostic open source AI agent to help developers reduce tedious tasks like writing unit tests, managing dependencies, and maintaining documentation, allowing them to focus more on creative work. Their target project, OpenHands, has already garnered over 30,000 stars on GitHub and has more than 150 contributors, positioning itself as a "smart partner" for developers.

Generative AI accounts for less than 1% of corporate cloud spending, compared to 18% for traditional AI. The MenloVentures report reveals the actual investment status in the industry. Companies are hesitant and concerned about generative AI, mainly due to unproven return on investment and 'last mile problems'. MenloVentures survey shows that while the generative AI market is rapidly developing, companies’ hesitance primarily revolves around validating investment returns and addressing last mile issues.