AI music company Suno raises $400 million in funding

AI music unicorn Suno has raised $400 million in funding, doubling its valuation to $5.4 billion. The round was led by Bond Capital, with participation from IVP and others. The company has surpassed 2 million subscribers and is expected to generate $300 million in annual sales. It plans to hire 70% more employees by the end of the year. Suno has reached a settlement and signed a licensing agreement with Warner Music, having previously faced copyright infringement lawsuits from Universal, Sony, and Warner Music.