1 hr ago
Jeff Dean’s Discovery Loop Targets $50 Billion Valuation
Discovery Loop is a new company that uses artificial intelligence to help scientists and engineers solve difficult problems.
It was founded by Jeff Dean, who spent many years working at Google.
The company wants AI to act like a helpful research partner, not just a simple tool.
It plans to run thousands of experiments at the same time.
Discovery Loop is now trying to raise more money from investors.
The company is discussing a possible valuation of $50 billion.
Just weeks earlier, it reportedly sought $1 billion at a valuation of about $10 billion.
The deal is not final, so the company may not receive money at the proposed valuation.
Discovery Loop is seeking new funding at a proposed $50 billion valuation, according to Business Insider.
The startup reportedly sought $1 billion at a valuation of about $10 billion just weeks earlier.
Discovery Loop aims to use AI and thousands of parallel experiments to accelerate science and engineering research.
Its first funding round was led by Radical Ventures and Khosla Ventures, with several other firms participating.
The proposed deal remains subject to change, and Discovery Loop may not raise funds at the $50 billion valuation.
- Who
- Discovery Loop, founded by former Google chief scientist Jeff Dean, is seeking funding from investors.
- What
- The AI startup is reportedly pursuing a new funding round at a proposed $50 billion valuation.
- Where
- The articles do not specify where the fundraising discussions are taking place.
- When
- The latest fundraising effort was reported on Friday, weeks after the company sought $1 billion at about a $10 billion valuation.
- Why
- The company aims to fund costly AI development and research operations while using AI to accelerate scientific and engineering discovery.
Key facts
- Proposed valuation
- $50 billion
- Earlier fundraising target
- $1 billion at an approximately $10 billion valuation
- Company founder
- Jeff Dean
- Research approach
- Parallel execution of thousands of experiments
- First funding round
- Led by Radical Ventures and Khosla Ventures
- Additional participants
- Lightspeed, Kleiner Perkins, and Doerr Capital
- Strategic backing
- Alphabet was described as a founding investor, and Google serves as the company’s cloud partner
Quotes
Discovery Loop
AI startup founded by Jeff Dean
“is to build AI that acts as a genuinely positive, empowering force for humanity: not just a tool, but a partner in solving the problems that matter most.”
livemint.com
“automating discovery to accelerate science and engineering for the world”
livemint.com
Jeff Dean
Discovery Loop cofounder and former Google chief scientist
“might make decisions that are not in the company's financial interest but are in the broader societal good.”
livemint.com
Sources
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