Instinct seeks $1 billion in fresh funding, The Information reports

Instinct CEO Noah Shinn has told investors he wants to raise $1 billion, The Information’s Stephanie Palazzolo reports. The round could value the personal AI assistant at $10 billion, four times its August valuation. That would follow a reported $250 million round last month. Instinct says its assistant connects to users’ apps and devices to handle tasks such as arranging rides and booking home services. Access remains limited while the company adds computing power. Shinn said Sept. 1 that increased demand had made responses three to five times slower during a 12-hour period. He said the bottlenecks had been resolved and more capacity added.