{"version":"1.0","type":"card","id":"1a14038c-4a4c-482b-9eb9-c6cf9bbccdfa","url":"https://stacklist.com/card/1a14038c-4a4c-482b-9eb9-c6cf9bbccdfa","title":"City AM — Month-Old DeepMind Spinout Nears $4B on a Future-Capability Bet","source_url":"https://www.cityam.com/month-old-deepmind-spinout-nears-4bn-on-future-capability-bet/","note":"Reported in the register of a completed round. It is a negotiation: talks, no product, one month old. Note the arithmetic — a $3.0B pre-money plus $700M is a $3.7B post, so the two figures quoted are one number, not two.","image":{"url":"https://ucarecdn.com/2bc2c6e3-b51b-4c2f-b991-93d75588e755/","alt":"City AM — Month-Old DeepMind Spinout Nears $4B on a Future-Capability Bet","width":1200,"height":800},"stack":{"id":"0646d51e-dad0-4c1e-a033-869814d86f1c","title":"Signals Served #029 — The Cost of Capital Moved Somewhere Else","url":"https://stacklist.com/c/finance/stack/0646d51e-dad0-4c1e-a033-869814d86f1c"},"created_at":"2026-09-21T22:45:31.229Z","updated_at":null,"aco":{"summary":"Emulate, a month-old AI startup founded by three former Google DeepMind researchers, is nearing a $4 billion valuation in advanced funding talks despite having no product or website. The $700 million seed round reflects investor confidence in the team's ability to create breakthrough world model technology for robotics and physical AI applications.","tags":["ai-startup","deepmind-spinout","world-models","venture-funding","robotics","physical-ai","foundation-models"],"key_entities":[{"name":"Emulate","type":"organization","confidence":0.99},{"name":"Google DeepMind","type":"organization","confidence":0.99},{"name":"Index Ventures","type":"organization","confidence":0.95},{"name":"Lightspeed Venture Partners","type":"organization","confidence":0.95},{"name":"Jack Parker-Holder","type":"person","confidence":0.98},{"name":"Matthew McGill","type":"person","confidence":0.98},{"name":"Philip Ball","type":"person","confidence":0.98},{"name":"Charlie Dai","type":"person","confidence":0.95},{"name":"Fei-Fei Li","type":"person","confidence":0.95},{"name":"Genie","type":"technology","confidence":0.97},{"name":"world models","type":"technology","confidence":0.98},{"name":"World Labs","type":"organization","confidence":0.92},{"name":"OpenAI","type":"organization","confidence":0.95},{"name":"Anthropic","type":"organization","confidence":0.95},{"name":"Forrester","type":"organization","confidence":0.93},{"name":"London","type":"location","confidence":0.95},{"name":"Britain","type":"location","confidence":0.9},{"name":"physical-ai","type":"concept","confidence":0.96},{"name":"spatial-intelligence","type":"concept","confidence":0.94}],"classification":"analysis","language":"en","confidence":0.85,"provenance":{"model":"claude-haiku-4-5","tool":"@stacklist/mcp-server@2.0.0","confidence":0.85,"timestamp":"2026-09-21T22:45:38.870Z"},"token_counts":{"approximate":1054,"cl100k":819},"content_hash":"sha256:4ec67d503cbb0833bde407e660f9618bcfe085e2f09f2839aa14e6de1134a030","acp_version":"0.2","body_available":true,"body_tokens":1054,"visibility":"public","agent_accessible":true,"status":"final"},"_links":{"self":"/api/public/card/1a14038c-4a4c-482b-9eb9-c6cf9bbccdfa.json","html":"https://stacklist.com/card/1a14038c-4a4c-482b-9eb9-c6cf9bbccdfa","md":"/api/public/card/1a14038c-4a4c-482b-9eb9-c6cf9bbccdfa.md","stack_json":"/api/public/stack/0646d51e-dad0-4c1e-a033-869814d86f1c.json"}}