AI assistant firm Instinct in talks for $1 billion funding at $10 billion valuation

AI assistant developer Instinct is negotiating a $1 billion funding round at a $10 billion valuation. The company, identified as Spear Street Technology, has seen its user base grow to over 100,000, leading to capacity issues for its invite-only AI agent service. Sequoia Capital and Benchmark are in talks to lead the round, which follows a $250 million raise less than a month ago. The company has raised a total of $350 million to date.