Andreessen Horowitz Leads $200 Million Investment in Periodic Labs
Andreessen Horowitz is leading a $200 million investment in Periodic Labs, a startup focused on using artificial intelligence for material science, according to Bloomberg. The investment values the company at $1 billion, a notable achievement for a startup that is only a few months old.
Founded by Liam Fedus, a former vice president of research at OpenAI, and Ekin Dogus Cubuk, a former research scientist at Google's DeepMind, Periodic Labs aims to leverage AI to study and potentially discover new materials. OpenAI is also expected to participate in the funding round, despite initially planning to lead it.
The decision to have Andreessen Horowitz lead the investment was influenced by the additional resources the venture firm could provide. The funding round has not yet closed, and terms may still change. This investment highlights the growing interest in startups founded by alumni of leading AI organizations like OpenAI and DeepMind.
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