PANews reported on August 9, citing Techinasia, that informed sources revealed Andreessen Horowitz has agreed to lead a $200 million financing round for Periodic Labs, a startup focused on AI in materials science that was established just months ago. This investment is expected to value Periodic Labs at $1 billion ahead of the new financing round.
Periodic Labs was founded by former OpenAI Vice President Liam Fedus and former DeepMind research scientist Ekin Dogus Cubuk. The company aims to leverage artificial intelligence for the research and discovery of new materials. OpenAI is also expected to participate in this round of financing, but specific terms have not yet been finalized.