OpenAI Co-founder Ilya Sutskever’s New AI Startup Hits $30 Billion Valuation – Without a Product

Ilya Sutskever, the co-founder and former chief scientist of OpenAI, is raising over $1 billion for his AI startup, Safe Superintelligence (SSI), at a more than $30 billion valuation.

Sutskever, who left OpenAI in May 2024 after nearly a decade as its chief scientist, co-founded SSI in June with Daniel Gross, a former AI lead at Apple, and Daniel Levy, an ex-OpenAI researcher. SSI has no product or revenue yet, but investors are betting big on Sutskever’s vision of building a powerful and safe AI system.

According to Bloomberg, the funding round is led by Greenoaks Capital Partners, a San Francisco-based venture capital firm, which has committed $500 million to SSI. Other investors remain undisclosed, but previous backers include prominent names like Sequoia Capital and Andreessen Horowitz. The latest valuation represents a six-fold increase from SSI’s previous worth of $5 billion just months ago.

No products, no revenue — but a clear mission

What makes SSI stand out is its laser-sharp focus on safety. Unlike other AI companies racing to release products, SSI has no plans to sell anything soon. Instead, Sutskever has stated that the company’s first and only product will be “safe superintelligence.”

“This company is special because its first product will be the safe superintelligence, and it will not do anything else until then,” Sutskever told Bloomberg in June. “It will be fully insulated from the outside pressures of having to deal with a large and complicated product and being stuck in a competitive rat race.”

This approach has resonated with investors, who seem to trust Sutskever’s vision and track record. As one of the pioneers of neural networks, Sutskever has long been a leading voice in AI research. His work at OpenAI, including co-chairing the “superalignment” team, focused on ensuring AI systems remain aligned with human values.

From OpenAI conflict to a new beginning

However, Sutskever’s journey hasn’t been without controversy. In late 2023, he played a central role in the brief ouster of OpenAI CEO Sam Altman, a move that sparked internal turmoil. Altman was reinstated days later, and Sutskever eventually left the company.

Despite the drama, Sutskever’s new venture is gaining momentum. SSI’s website offers a glimpse into its philosophy: “We approach safety and capabilities in tandem, as technical problems to be solved through revolutionary engineering and scientific breakthroughs.”

The bigger picture: a growing wave of AI startups

While the startup remains shrouded in mystery, its ambitious goals and Sutskever’s reputation have already made it a major player in the AI race. Interestingly, Sutskever isn’t the only OpenAI alum making waves in the AI space. Mira Murati, OpenAI’s former Chief Technology Officer, recently launched her startup, Thinking Machines Lab. The startup has already attracted a team of approximately 30 top researchers and engineers from other leading tech companies, including OpenAI, Meta, and Mistral.
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