A Turkish entrepreneur’s artificial intelligence company is rapidly approaching a valuation of $7 billion.
The startup, called Periodic Labs, was founded by Turkish scientist Ekin Doğuş Çubuk, who previously worked at Google DeepMind, and Liam Fedus, a former vice president at OpenAI.
The company is in talks with investors to raise a new funding round worth hundreds of millions of dollars at this valuation.
Periodic Labs focuses on developing “AI scientists” that accelerate discoveries in materials science. By combining artificial intelligence with robotic laboratories, the company can simulate new materials in seconds and test them autonomously in real-world lab environments.
Despite being founded only last year, the company has experienced rapid growth, with its valuation increasing from approximately $1.3 billion to $7 billion in a short time.
The startup has attracted major investors, including Andreessen Horowitz, Nvidia’s investment arm, Jeff Bezos, and Eric Schmidt.
Source: Bloomberght/ Prepared by: İlayda Gök