Instinct raising $1B at potential $10B valuation, refuses to charge users
ivan_bezdomny · x · 2026-09-12
pitdesi reports that Instinct is looking to raise $1B, potentially at a $10B valuation. The company has raised $350M to date, builds mostly on open source models, but faces high compute costs and wants to own its own chips and data centers.
Founder Noah doesn't want to charge users for the product. Quoting the news, TraceCohen calls it a perfect example of monetization getting in the way of growth, likening it to Clubhouse. Free product plus self-owned compute means a very high burn rate — whether this round can sustain the model is the open question.
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