Sources: AI agent startup Instinct in talks for $10 billion valuation funding

Odaily News: Sources familiar with the matter say the startup behind personal AI assistant Instinct is in talks to raise $1 billion at a valuation of about $10 billion. It was previously reported that the startup is seeking a new round of funding because its invite-only AI agent service is facing capacity constraints, with its user base having grown to more than 100,000 as the service expands. Sequoia Capital and Benchmark are in talks to lead the round. The funding has not yet been finalized, and the terms of the deal and the lead investors may still change. The valuation marks a sharp jump from the company's previous funding round.

According to PitchBook data, the startup, named Spear Street Technology, raised $250 million less than a month ago at a pre-money valuation of $2.25 billion. The company has so far raised a total of $350 million from investors. (The Information)