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Instinct Pitches $1 Billion Raise at $10 Billion Valuation a 4x Jump From Last Month
Funding21d agoThe CEO of the AI assistant company known as Instinct is soliciting investors for a fresh round of capital to solve compute bottlenecks. This new request for $1 billion would imply a company valuation of $10 billion, representing a fourfold increase over the value recorded last month. The firm recently closed a $250 million funding round, bringing its total capital raised to $350 million.
High compute costs drive the fundraise as CEO Noah avoids charging users for the product. The startup mostly uses open source models and plans to own its own chips and data centers to manage capacity. GPU constraints are the primary driver for the current request for additional funding.
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Key sources
- SOURCE@steph_palazzolo“The CEO of popular AI assistant Instinct has told investors he’s looking to raise $1b in new funding”x.com
- SUPPORT@pitdesi“Instinct has raised $350M to date, mostly uses open source models and wants to own chips and data centers”x.com
- SUPPORT@techmeme“AI assistant Instinct is looking to raise $1B in new funding after recently raising $250M, as it seeks more computing power amid capacity constraints”x.com
- SUPPORT@amir“Instinct just raised $250m but its CEO has discussed a goal to raise *another* $1b”x.com
- DISCUSSIONfortran77news.ycombinator.com
- SOURCEhntheatlantic.com