Former OpenAI Researcher To Raise $500 Million For AI Science Startup

Periodic Labs, a San Francisco-based startup building an AI scientist capable of autonomous scientific discovery, is in advanced funding talks to raise at least $500 million at a $7.5 billion valuation. The round is led by AMP, an investment vehicle founded by former Andreessen Horowitz general partner Anjney Midha, and is reportedly oversubscribed, with potential for an additional follow-up round at an even higher valuation. The company, founded by Liam Fedus (ex-OpenAI vice president of research) and Ekin Dogus Cubuk (ex-Google DeepMind research scientist), emerged in September 2024 with a $300 million seed round at a $1.3 billion valuation. If the current deal closes, Periodic Labs’ valuation will jump nearly sixfold in under eight months. The startup uses autonomous robotic laboratories to run physics and chemistry experiments, aiming to accelerate discoveries like high-temperature superconductors and semiconductor advancements. Periodic Labs has already partnered with the semiconductor industry for research and development, leveraging its AI-driven approach. The company has hired over 20 researchers from Meta, OpenAI, and DeepMind, many of whom left substantial equity packages at their prior roles to join. The funding reflects a broader trend in AI research, where the focus is shifting from conversational models to tools capable of autonomous scientific breakthroughs. OpenAI CEO Sam Altman has previously emphasized the importance of scientific progress for human flourishing, while Google DeepMind cofounder Demis Hassabis highlighted protein-folding breakthroughs like AlphaFold as a starting point for broader AI-driven discoveries. Periodic Labs was included on *Forbes’* AI 50 Brink list this year, underscoring its rapid growth and potential impact on scientific research. Bloomberg reported in March that the company was in talks for a large funding round with a valuation of at least $7 billion.