Sept 11 (Reuters) – AI startup Discovery Loop is seeking to raise funds again at a valuation of $50 billion, the Business Insider reported on Friday, citing people familiar with the matter.
Here are some more details:
• Terms of the deal could change, and there is no guarantee Discovery Loop will be able to raise funds at that valuation, the report added.
• Discovery Loop did not immediately respond to Reuters request for comment.
• The news website had said last month that Discovery Loop was in discussions for $1 billion in financing at a valuation of around $10 billion.
• The California-based AI startup was launched this year by some of Google’s most famous and lauded AI and engineering leaders, including veteran engineer Jeff Dean.
• The company focuses on researching breakthroughs in machine learning, science and engineering, and is structured as a public benefit corporation.
(Reporting by Ruchika Khanna in Bengaluru; Editing by Shailesh Kuber)
