Former Meta Chief AI Scientist Plans to Raise 500 Million Euros for New AI Company, Valued at Approximately 3 Billion Euros

According to the Financial Times, former Meta Platforms (META.O) chief AI scientist Yann LeCun plans to raise €500 million for his new startup, which will value the artificial intelligence company at approximately €3 billion before its official launch. The fundraising plan is expected to be completed before its official kickoff in January.

Sources revealed that LeCun, who recently announced he would be leaving Meta at the end of the year, has also arranged for Alexandre LeBrun, founder of the French health tech startup Nabla, to serve as CEO. Specific details about the new company, named Advanced Machine Intelligence Labs (AMI Labs), will be announced in January, with LeCun serving as executive chairman.