AI Science Startup Periodic Labs Is in Deal Talks at About $7 Billion Valuation

Periodic Labs, an artificial intelligence research startup founded last year by former OpenAI and DeepMind staffers, is having discussions with investors about raising at least hundreds of millions of dollars at a valuation of about $7 billion, according to people familiar with the matter.

The funding is a large jump in value for the young startup, which investors said was worth $1.3 billion in a seed funding round in September. That deal brought in $300 million from investors including Andreessen Horowitz, Felicis and Accel.