Norwest Raises $4B Fund for AI Investments

Norwest, a firm backed solely by Wells Fargo, raised a $4 billion fund on Thursday to invest in AI startups. This is the eighteenth fund for the 65-year-old firm and its largest to date. Investments target sectors including consumer, healthcare, and technology across the United States, India, and Israel, focusing on physical AI, voice AI, agentic cybersecurity, and aerospace.