Instinct reportedly in funding talks at a $10 billion valuation

A post summarizing The Information's reporting says Instinct is in talks to raise money at a $10 billion valuation, with Sequoia and Benchmark looking to lead. The summary describes a free product with 100,000-plus users that is hitting capacity limits and facing heavy computing costs despite having no revenue. It also says Instinct wants to buy its own chips and run its own data centers longer term.