Spear Street Technology, the startup behind personal AI assistant Instinct, is in discussions for a $1 billion fundraise at a roughly $10 billion valuation, The Information reported Tuesday, citing a person with knowledge of the deal.

Sequoia Capital and Benchmark have been in discussions to lead the funding, the unnamed source told the news outlet.

Spear Street recently raised $250 million at a $2.25 billion valuation before the new money, The Information reported, citing PitchBook data.

Meta (META) recently launched the Muse free AI assistant that functions similar to Instinct, according to the report.

Representatives from Spear Street, Benchmark, and Sequoia Capital didn't immediately respond to MT Newswires' requests for comment.

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