Igor Babuschkin Seeks Up to $1B for River AI
Igor Babuschkin, cofounder of xAI, is seeking to raise up to $1 billion for his new AI research startup, River AI. The company aims for a valuation of up to $5 billion, with General Catalyst reportedly leading the funding round. Babuschkin is also investing up to $100 million of his own capital into the venture, which was incorporated in Nevada in April 2026.
- ▪Igor Babuschkin is in talks to raise up to $1 billion for River AI.
- ▪The startup is targeting a valuation of up to $5 billion.
- ▪Babuschkin is committing up to $100 million of his own capital to the venture.
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Funding & Businessneolabsfundraisingigor babuschkinriver aiIgor Babuschkin Seeks Up To $1 Billion For River AI1 sources|May 14, 20266.8Relevance ScorePhoto: imageio.forbes.com · rights & takedownsQuick SummaryHideForbes reports that xAI cofounder Igor Babuschkin is in talks to raise up to $1 billion for a new AI research startup called River AI, according to multiple people familiar with the deal. Forbes says the company is targeting a valuation of up to $5 billion and that VC firm General Catalyst is in talks to lead the round, per two sources cited by Forbes. Forbes additionally reports that Babuschkin is committing up to $100 million of his own capital and that River AI was incorporated in Nevada on April 20, 2026, according to documents reviewed by Forbes.
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