Former OpenAI researcher to raise $500 million for startup
Former OpenAI researcher to raise $500 million for startup
Publish Date: 2026-05-13 19:14:00
Source Domain: www.forbes.com.au
Here is a summary of the article using an unordered list:
– Periodic Labs, a San Francisco-based startup focused on AI-driven scientific discovery, is negotiating a significant fundraising round.
– The company aims to raise at least $500 million, which would value it at $7.5 billion, marking a nearly sixfold increase since its founding last year.
– This investor-attract pitch hinges on its plan to automate laboratories to run thousands of physical and chemical experiments to fuel its AI models.
– The new round, reportedly led by AMP, a firm founded by ex-Andreessen Horowitz general partner Anjney Midha, is said to be oversubscribed.
– Founded by former employees of leading tech companies like OpenAI and DeepMind, the startup intends to utilize its AI to discover new materials, including superconductors that work at higher temperatures.
– Periodic Labs has been building a talented team, poaching over 20 researchers from major companies like Meta, DeepMind, and OpenAI.
– Many leading AI researchers believe that the “holy grail” of AI is its capability in autonomous scientific discovery, highlighting the broader aspirations behind the firm’s mission.
If you require more detailed information, I recommend accessing the original source at Forbes.
