Safe Superintelligence (SSI) is in talks to raise over $1bn in funding at a valuation exceeding $30bn, reported Bloomberg citing a source familiar with the matter.
The investment round is being led by San Francisco-based venture capital firm Greenoaks Capital Partners, which plans to commit $500m.
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Greenoaks has previously backed AI companies such as Scale AI and Databricks.
The funding discussions are ongoing, and the terms could still change, according to the source.
SSI had previously secured investments from several venture capital firms, including Sequoia Capital and Andreessen Horowitz.
The company was co-founded in June 2024 by Ilya Sutskever, former chief scientist of OpenAI, following his departure from the organisation in May.
His co-founders include Daniel Gross, a venture capitalist who previously led AI initiatives at Apple, and Daniel Levy, a former OpenAI researcher.
SSI has yet to generate revenue and is focused on developing AI, which aims to surpass human intelligence while maintaining alignment with human values and safety protocols.
The latest valuation marks an increase from the company’s previous valuation of $5bn, following its funding round in September 2024.
In June 2024, Sutskever was quoted by Bloomberg as saying: “This company is special in that its first product will be the safe superintelligence, and it will not do anything else up until then.
“It will be fully insulated from the outside pressures of having to deal with a large and complicated product and having to be stuck in a competitive rat race.”
