New Delhi, Sept. 13 -- Discovery Loop, an artificial intelligence (AI) startup founded by Jeff Dean, a former chief scientist at Google, is seeking to raise funds again at a valuation of $50 billion.

Business Insider reported the development on Friday (local time), noting that the latest fundraising effort comes just weeks after the company sought to raise $1 billion at a valuation of around $10 billion. The strong investor interest in AI startups, coupled with intense demand for skilled researchers, is prompting companies to seek fresh capital at a rapid pace. The substantial costs involved in developing AI systems and operating research labs are also driving startups to raise funds sooner.

According to the report, the terms of the dea...