AI startup DensityAI is in late-stage funding negotiations with a post-money valuation approaching $10 billion.

Two people familiar with the matter revealed that AI chip startup DensityAI, founded a year ago by former core members of Tesla's Dojo supercomputer project, is now in late-stage financing negotiations, planning to raise several hundred million dollars, with the company valued at $10 billion in this funding round. The people familiar with the matter said that company management has told potential investors that it has secured an agreement: if DensityAI's chips meet specified performance metrics, Amazon Web Services will purchase its chips. One of the people familiar with the matter said that Andreessen Horowitz is in talks to lead this funding round.