The CEO of the AI assistant company known as Instinct is soliciting investors for a fresh round of capital to solve compute bottlenecks. This new request for $1 billion would imply a company valuation of $10 billion, representing a fourfold increase over the value recorded last month. The firm recently closed a $250 million funding round, bringing its total capital raised to $350 million.

High compute costs drive the fundraise as CEO Noah avoids charging users for the product. The startup mostly uses open source models and plans to own its own chips and data centers to manage capacity. GPU constraints are the primary driver for the current request for additional funding.