AI startup Discovery Loop seeks US$50 billion valuation in new funding round

AI startup Discovery Loop is targeting a US$50 billion valuation in its latest fundraising, Business Insider reports. The California-based company, founded by former Google AI leaders including Jeff Dean, was reportedly valued at around US$10 billion in discussions last month.

AI startup Discovery Loop is seeking to raise funds at a valuation of US$50 billion, Business Insider reported on Friday, citing people familiar with the matter. The California-based company was launched this year by some of Google's most prominent AI and engineering leaders, including veteran engineer Jeff Dean.

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. The news website had said last month that Discovery Loop was in discussions for US$1 billion in financing at a valuation of around US$10 billion.

Discovery Loop focuses on researching breakthroughs in machine learning, science and engineering, and is structured as a public benefit corporation. The company did not immediately respond to a request for comment from Reuters.