EMULATE NEARS $700M SEED ROUND AT NEARLY $4B VALUATION JUST ONE MONTH AFTER LAUNCH Emulate, a UK AI startup founded in August by former Google DeepMind researchers Jack Parker-Holder, Matthew McGill and Philip Ball, is in advanced talks to raise as much as $700M at a roughly $3.7B valuation. Index Ventures and Lightspeed Venture Partners are expected to lead the round. The founders previously worked on DeepMind’s Genie world-model efforts, which focus on AI systems capable of generating and simulating interactive environments. Emulate is still operating largely in stealth and has not publicly detailed its product. The raise would follow another massive DeepMind spinout: David Silver’s Ineffable Intelligence raised $1.1B in April at a $5.1B valuation, led by Sequoia and Lightspeed, with Nvidia, Google and Index also participating. Source: FT