Former OpenAI co-founder Ilya Sutskever is raising more than USD 1 billion (CNY 7 billion) in funding for his startup, Safe Superintelligence (SSI). The valuation has propelled SSI into one of the most highly valued private tech companies in the world. SSI, which currently has 10 employees, plans to use the funds to acquire computing power and hire top talent.
Bloomberg reported that the startup's funding valued it at more than USD 30 billion (CNY 218 billion). Venture capital firm Gwreenoaks Capital Partners is leading funding for the startup, and plans to invest USD 500 million (CNY 3.6 billion). Greenoaks is also an investor in AI companies Scale AI and Databricks.
The round also marks a multifold jump in SSI's valuation from its previous USD 5 billion (CNY 36 billion). Financing negotiations are still ongoing and details may change. SSI has previously received financial backing from high-profile investors such as Sequoia Capital and Andreessen Horowitz.
Sutskever, who was instrumental in developing OpenAI's technology and served as its chief scientist, left OpenAI in May 2024. A month later, he co-founded SSI with Daniel Gross, the former head of AI at Apple, and Daniel Levy, a former OpenAI researcher.
SSI, which focuses on developing secure AI systems, has not yet achieved revenue and has no plans to launch a commercial AI product in the near future. In an interview in June 2024, Sutskever said, "What's unique about this company is that its first product will be safe superintelligence. Until then, SSI will not venture into other areas. The company will be completely insulated from external pressures and will not have to deal with complex product development or be involved in fierce market competition."