Michael Andretti’s SPAC Finds Tech Target in Zapata AI (1)

The blank-check company started by former IndyCar driver Michael Andretti is merging with Boston-based artificial intelligence startup Zapata AI, according to a statement Wednesday.

The merger with Andretti Acquisition Corp. values Zapata at around $200 million, the statement said, confirming an earlier Bloomberg News report.

Zapata, which started at Harvard University in 2017, has roots in developing quantum computing software and now considers itself a “generative AI software company,” according to its website.

Generative AI refers to models that can be used to generate or produce something, such as text or images, based on an input such as a ...