Sutskever strikes AI gold with billion-dollar backing for superintelligent AI

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November 1st, 2024

Sutskever strikes AI gold with billion-dollar backing for superintelligent AI

On Wednesday, Reuters reported that Safe Superintelligence (SSI), a new AI startup cofounded by OpenAI's former chief scientist Ilya Sutskever, has raised $1 billion in funding. The 3-month-old company plans to focus on developing what it calls "safe" AI systems that surpass human capabilities.

The fundraising effort shows that even amid growing skepticismaround massive investments in AI tech that so far have failed to be profitable, some backers are still willing to place large bets on high-profile talent in foundational AI research. Venture capital firms like Andreessen Horowitz, Sequoia Capital, DST Global, and SV Angel participated in the SSI funding round.

SSI aims to use the new funds for computing power and attracting talent. With only 10 employees at the moment, the company intends to build a larger team of researchers across locations in Palo Alto, California, and Tel Aviv, Reuters reported.

While SSI did not officially disclose its valuation, sources told Reuters it was valued at $5 billion—which is a stunningly large amount just three months after the company's founding and with no publicly-known products yet developed.

Much like Anthropic before it, SSI formed as a breakaway company founded in part by former OpenAI employees. Sutskever, 37, cofounded SSI with Daniel Gross, who previously led AI initiatives at Apple, and Daniel Levy, a former OpenAI researcher.

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Posted By: webdev