OpenAI co-founder Ilya Sutskever raised $1 billion for SSI startup

OpenAI co-founder Ilya Sutskever has announced that his new AI startup SSI has raised $1 billion in cash to develop new AI technologies.

The startup employs 10 people and the new fund will help the company to expand its operations and capabilities across different aspects.

SSI aims to establish a team of researchers and engineers in Palo Alto, California, and Tel Aviv, Israel.

The first funding is coming from top venture capital firms including Andreessen Horowitz, Sequoia Capital, DST Global, SV Angel, and NFDG.

Sutskever co-founded SSI in June this year with Daniel Gross, who previously worked at Apple on AI projects.