Source: The Information
Summary
Ineffable Intelligence, a British AI lab, has secured $1.1 billion in funding, valuing the company at $5.1 billion. The lab was founded by David Silver, a former researcher at DeepMind, just a few months ago. The funding round was not led by a specific investor and was instead supported by a group of investors.
Our Reading
The launch follows a familiar script.
Another AI lab, another billion dollars. Ineffable Intelligence, founded by a former DeepMind researcher, raises $1.1 billion at a valuation of $5.1 billion. Because what the world really needed was another AI company with a big bank account. The company’s valuation is impressive, considering it was founded just a few months ago. Yet another example of how AI startups can make money before they even make a product.
Original observation: Because “revolutionizing AI” is apparently a $5 billion idea.
Author: Evan Null
