$32 Billion With No Product: Ilya Sutskever's SSI Raises Another $2B
In April 2025, Safe Superintelligence raised $2 billion at a $32 billion valuation — under a year old and with no product yet.
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Per TechCrunch, citing the Financial Times, Ilya Sutskever's Safe Superintelligence (SSI) raised $2 billion in April 2025 at a $32 billion valuation (TechCrunch, April 12, 2025) — for a company less than a year old, with its product still in the works and its website little more than a mission statement.
What $2 Billion Buys
The round pushed 'faith premium' to its limit: investors are buying options on Ilya himself and his technical roadmap.
What Happened Next
In June 2025, Meta tried and failed to buy SSI outright, then moved to hire its CEO Daniel Gross (TechCrunch, June 20, 2025); Gross left SSI as of June 29, Sutskever became CEO, and co-founder Daniel Levy became president (TechCrunch, July 3, 2025).
SSI became the specimen in the AI bubble-versus-belief debate: either the largest venture mistake in history, or its most prescient bet.
This article aggregates official announcements and public reporting; original sources are linked below.
Source:TechCrunch
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