Source: AI assistant Instinct seeks to raise $1B at a $10B valuation, up from $2.25B less than a month ago; Sequoia and Benchmark are in talks to lead the round

Valuations for AI assistant startups have more than quadrupled in under a month.

Instinct, the company developing a personal AI assistant, is reportedly in discussions to secure $1 billion in funding. The proposed valuation for this round is approximately $10 billion, a significant increase from its previous valuation of $2.25 billion which was established less than a month ago. Venture capital firms Sequoia and Benchmark are reportedly in talks to lead this funding round, signaling strong investor interest in the rapidly evolving AI assistant market.

This funding round, if successful, would represent a massive surge in valuation for Instinct, reflecting a broader trend of intense investor appetite for companies in the generative AI and personal assistant space. The speed of this valuation increase suggests a high-stakes race among investors to back perceived future leaders in AI.

The participation of prominent VCs like Sequoia and Benchmark indicates a strong belief in Instinct's technology and market potential. This move could set a new benchmark for AI assistant valuations, potentially influencing future funding rounds and competitive strategies for both startups and established tech giants aiming to capture market share in personal AI.