California startup Discovery Loop seeks valuation of about $50 billion
California-based artificial intelligence startup Discovery Loop is seeking new funding at a valuation of about $50 billion. Channel NewsAsia reports, citing Reuters and information from Business Insider obtained from people familiar with the matter.
Terms of the potential deal
According to Business Insider, the terms of the potential deal may still change. There is also no guarantee that Discovery Loop will be able to raise funds at a valuation of about $50 billion.
The company did not immediately provide Reuters with a comment on this information.
More current news is available on the UA.News Telegram channel Telegram.
Previous talks
Last month, Business Insider reported that Discovery Loop had been in talks to raise $1 billion in funding at a valuation of approximately $10 billion.
The startup was launched this year by prominent Google specialists in artificial intelligence and engineering, including Jeff Dean, a veteran of the engineering team. The company is exploring breakthrough solutions in machine learning, science and engineering and is structured as a public benefit corporation.
