Meta's Yann LeCun targets $3.5 billion valuation for new AI startup, FT reports

Dec ‌18 (Reuters) - Meta's outgoing chief artificial intelligence scientist Yann LeCun ‍is ‌holding early talks to raise 500 million euros ($586.00 million) for ⁠a new startup that ‌would value the AI firm at about 3 billion euros ahead of its official launch, the Financial Times reported on Thursday.

The report ⁠said LeCun has tapped Alexandre LeBrun, the founder of French health tech ​startup Nabla, as chief executive, citing people ‌familiar with the matter.

LeCun ⁠played a key role in developing Meta's AI ambitions, and said last month that he will leave the social ​media giant at the end of the year to focus on a new startup that aims to build a new generation of superintelligent AI systems.

Strong funding commitments ​and a ‍high valuation before ​launch could fuel fears of an AI bubble after industry leaders warned that enthusiasm for AI may have outstripped business fundamentals.

The startup plans to build AI systems using so-called world models that can understand the physical world. The systems ⁠could support applications including robotics and transport.

LeCun did not immediately respond to a Reuters ​request for comment.

He is widely regarded as one of the "godfathers" of deep learning, alongside Geoffrey Hinton and Yoshua Bengio — a trio that won the 2018 ‌Turing Award, often called the Nobel Prize of computing.

($1 = 0.8532 euros)

(Reporting by Zaheer Kachwala in Bengaluru; Editing by Tasim Zahid)