AI startup Emulate reached a valuation of several billion dollars within three months of its establishment, with investors competing to raise the price in the same round of financing

According to Bloomberg, AI startup Emulate, founded by alumni of Google DeepMind, has been established for only three months and currently has no official website or products. However, venture capital firms are eager to get involved, driving its valuation to several billion dollars.

The report states that due to intense competition, investors are willing to buy in at continuously rising prices during the same round of financing, leading to different valuations for the same company within the same round of financing.