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Investing.com -- Liam Fedus, former vice president of research for post-training at OpenAI, is reportedly raising over $100 million to launch a new startup called Periodic Labs. The startup, which will specialize in artificial intelligence for material science, is being backed by OpenAI and others, according to Bloomberg, citing anonymous sources. The new round of funding will put the startup’s valuation at around $1 billion. Fedus is collaborating with Ekin Dogus Cubuk, an ex-research scientist from Google (NASDAQ:GOOGL) DeepMind, on this venture.
Fedus was part of the team that developed ChatGPT at OpenAI two and a half years ago. He is one of many former OpenAI employees who have decided to start their own companies, capitalizing on the current boom in AI investment.
In related news, another group of less-known former OpenAI employees have also left the company to start their own venture, according to Bloomberg. This new startup, which is yet to be named, has secured seed funding from the renowned venture capital firm Benchmark. The startup will concentrate on reinforcement learning, an AI technique that enables systems to learn decision-making through trial and error. The team behind this venture includes Rhythm Garg, Linden Li, and Yash Patil.
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