AMI Labs, a new artificial intelligence venture co-founded by Turing Award winner Yann LeCun following his departure from Meta, has successfully secured $1.03 billion in funding. The company, led by CEO Alexandre LeBrun, operates with a pre-money valuation of $3.5 billion and is dedicated to developing world models. Unlike the current wave of generative AI that primarily processes language, AMI Labs focuses on building AI systems capable of understanding reality itself. LeBrun predicts that while the term world model may become a common buzzword for fundraising in the near future, his organization remains distinct in its ambition to fundamentally grasp the real world rather than just simulate text. The technology aims to address critical limitations in current large language models, specifically their tendency to hallucinate, which can have severe consequences in sectors like healthcare. LeBrun and LeCun believe this approach is essential for future safety and reliability. The startup's first partner will be Nabla, a digital health company where LeBrun previously served as CEO. However, the path to commercial viability is expected to be long. LeBrun acknowledged that AMI Labs is a fundamental research project rather than a typical applied AI startup, noting that moving from theory to commercial application could take years. Despite the extended timeline, investors are showing significant interest in the field. Recent funding rounds for similar initiatives, such as SpAItial and Fei-Fei Li's World Labs, indicate a growing trend. AMI Labs initially sought around €500 million but ultimately raised approximately €890 million, a testament to its impressive leadership team. The roster includes Meta's former VP for Europe Laurent Solly as COO, along with prominent researchers Saining Xie, Pascale Fung, and Michael Rabbat. The investment round was co-led by Cathay Innovation, Greycroft, Hiro Capital, HV Capital, and Bezos Expeditions, with participation from industry figures like Tim and Rosemary Berners-Lee, Jim Breyer, Mark Cuban, and Eric Schmidt. Strategic backers include major corporations such as NVIDIA, Samsung, Sea, Temasek, and Toyota Ventures, alongside French industrial groups. The capital will primarily fund high-cost areas such as computing power and talent acquisition. AMI Labs plans to establish teams in four key locations: Paris, New York, Montreal, and Singapore, prioritizing quality over quantity. Although the startup has no immediate revenue plans, it intends to engage with prospective customers early to test its models in real-world scenarios. Furthermore, adhering to LeCun's philosophy, AMI Labs commits to publishing research papers and releasing open-source code. LeBrun emphasized that open research accelerates progress and helps build a robust ecosystem, a practice he believes remains rare but vital for the industry's future development.