Former Twitter CEO Agrawal launches AI startup

CN
5 days ago

Former Twitter (now X) CEO Parag Agrawal has returned to the tech industry with his startup Parallel Web Systems Inc., which focuses on helping AI agents autonomously collect and analyze information from the web.

Agrawal announced on LinkedIn on Friday that his startup has launched its first major product, the "Deep Research API." This product has outperformed humans and mainstream AI models, including OpenAI's GPT-5, in some research benchmarks.

"We are already supporting millions of research tasks every day," Agrawal added. "A publicly traded company is using Parallel to automate manual workflows, with programming agents finding documents and debugging issues through its tools." According to Bloomberg, Agrawal has raised $30 million for Parallel and leads a team of 25 people.

Since Elon Musk acquired Twitter in October 2022 and renamed it X, Agrawal and several other executives were dismissed, marking Agrawal's first return to the tech field with Parallel.

These executives subsequently sued Musk, claiming they were owed about $128 million in severance after their contracts were abruptly terminated. A district court ruled in November that the case could proceed, but a final judgment has yet to be made.

During his tenure as Chief Technology Officer under then-CEO Jack Dorsey, Agrawal developed machine learning models at Twitter. He served as Twitter's CEO from November 2021 until October 2022.

After being fired from Twitter, Agrawal told Bloomberg that he returned to AI research, resuming reading papers and writing code. He revealed that he turned down offers from struggling tech companies that wanted him to "clean up the mess."

Agrawal's initial AI startup idea was an AI-driven healthcare company, but he quickly realized that the future's largest users of the internet would be AI agents rather than humans.

"The number of agents on the internet will exceed that of humans. You might deploy 50 agents online for yourself," Agrawal told Bloomberg. "I think this will happen soon, perhaps next year."

Agrawal's bet on AI agents aligns with recent predictions from Coinbase developers, who described autonomous AI agents as the "largest user group" for Ethereum's future.

Coinbase's Kevin Leffew and Lincoln Murr noted that a little-used HTTP protocol standard combined with Ethereum Improvement Proposal (EIP-3009) could open a new era for e-commerce on the blockchain.

The two stated that AI agents could execute stablecoin transfers without human involvement, enabling everything from self-driving taxis paying for fuel to AI models monetizing content on demand.

Related: SEC Chair Paul Atkins hints that retail investors will gain access to private equity investment opportunities

Original article: “Former Twitter CEO Agrawal Launches AI Startup”

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