Asia Tech Wire (Sep 5) -- A new AI company co-founded by former OpenAI chief scientist Ilya Sutskeve has raised $1 billion in cash, according to Reuters.

Citing company executives, the report said Safe Superintelligence (SSI) has raised $1 billion in cash to develop safe AI systems that far exceed human capabilities.

SSI, which currently has 10 employees, plans to use the funds to acquire computing power and hire top talent.

The company declined to disclose its valuation, but people familiar with the matter put it at $5 billion, the report said.

Sutskever announced his departure from the ChatGPT developer in May after nearly 10 years with the company.

In June, Sutskever co-founded SSI with former OpenAI researcher Daniel Levy, and former Apple AI lead Daniel Gross.