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.