Andrew Dai, a former Google DeepMind researcher, secured a $55 million seed round at a $300 million valuation for his new company, Elorian, just months after leaving Google. The deal, discussed on TechCrunch's Build Mode podcast, reportedly carries a more aggressive valuation-to-capital ratio than Thinking Machines' record-breaking raise, underlining how investors are racing to back experienced AI researchers before they even have a finished product.

Dai, whose earlier research contributed to work underpinning ChatGPT, said he is targeting visual AI, an area he argues has lagged behind advances in maths, physics and coding. In the interview, he explains how he translated a technical vision into a pitch nontechnical investors could grasp, and why he chose partners such as Nvidia and Menlo Ventures over rivals offering higher valuations, prioritising strategic value over price. He also discusses recruiting researchers away from Big Tech and why speed is a key competitive edge in AI development.