AI startup Discovery Loop seeks around $50 billion valuation, Business Insider reports

Sept 11 — 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)

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