UK-based AI startup Emulate is in advanced talks to raise $700 million.
Former Google DeepMind researchers founded the company one month ago.
The investment would value the startup at approximately $3.7 billion.
Index Ventures and Lightspeed Venture Partners are expected to co-lead the round.
The founding team previously developed Google’s Genie AI for generating interactive 3D environments.
Emulate currently has no product.
The deal highlights investor demand for AI talent departing major technology labs.