Spatial computing firm World Labs, which is backed by Cisco (CSCO), among others, is in talks with investors to raise additional funding that would value the firm at $5B, Bloomberg reported.
The new funding round could be for as much as $500M, the news outlet added, citing people familiar with the matter. However, the deal is not yet finalized, and the size and number of investors could change, the people added.
World Labs did not immediately respond to a request for comment from Seeking Alpha.
Founded by world-renowned computer scientist Dr. Fei-Fei Li, World Labs is creating AI tools that can navigate the three-dimensional world. It has already released its first product, Marble, which it calls a “a first-in-class generative multimodal world model.” Marble is the company’s world model that can create 3-D worlds from image or text prompts.
Dr. Li, who has been referred to as the “godmother of AI,” has extensive experience in the tech industry. She previously served on the board of directors at Twitter (now known as X), as an executive at Google Cloud and various other companies.
