Top OpenAI, Google Brain researchers set off a $300M VC frenzy for their startup Periodic Labs 

Periodic Labs, a new startup founded by former OpenAI and Google Brain researchers, has raised a $300 million funding round led by Felicis Ventures. The startup's founders, Liam Fedus and Arvind Neelakantan, are highly respected in the AI research community, and their departure from OpenAI and Google Brain sparked a bidding war among venture capitalists. Felicis Ventures' Peter Deng emerged as the winner, writing a "love letter" to the founders and offering them a favorable deal. The startup's focus is on developing advanced AI models and technologies, building on the founders' expertise in areas like natural language processing and generative AI. The massive funding round underscores the intense interest and competition in the AI startup space, as investors seek to back the next generation of AI leaders. Periodic Labs' success in attracting such significant funding so early in its development is a testament to the founders' reputation and the potential of their work.