Flapping Airplanes raises $1B at $6B valuation

AI research lab Flapping Airplanes has raised $1 billion in a Series A round, valuing the one-year-old startup at $6 billion — roughly four times its seed-round valuation. Index Ventures and Lux Capital co-led the round, with Sequoia, GV, Kleiner Perkins, Nvidia and others also participating. Total funding now stands at $1.18 billion. The lab, which has no commercial product yet, is building AI models that learn from far less data by developing a megakernel GPU framework designed to dramatically reduce AI's cost structure.