Former Google chief scientist Jeff Dean is raising again for his new AI startup, seeking around a $50 billion valuation

Jeff Dean left Google after 27 years to launch his own startup Bloomberg/Getty Images Jeff Dean resigned as chief scientist from Google last month.

He was considered a legend in the company.

His new startup describes itself as "automating discovery to accelerate science and engineering for the world." The startup is seeking funding at a valuation of around $50 billion, according to people familiar with the matter.

Jeff Dean, who resigned as chief scientist from Google last month, is raising again for his new AI startup, Discovery Loop, this time seeking a valuation of around $50 billion, according to people familiar with the matter.

It was only a few weeks ago that Discovery Loop was raising $1 billion dollars at around a $10 billion valuation, Business Insider reported.

But in this white-hot fundraising market where VCs' voracious appetite for top AI talent such as Dean is matched only by the enormous expense of building an AI lab, it seems it is never too soon to raise funding again.

A spokesperson for Discovery Loop declined to comment.

Dean did not respond to a request for comment.

Terms of the deal could change, and there is no guarantee Discovery Loop will be able to raise a round of funding at that valuation.

Discovery Loop describes itself as "automating discovery to accelerate science and engineering for the world." The company hopes to tackle some of science and engineering's hardest problems through the "parallel execution of thousands of experiments." "Our goal is to build AI that acts as a genuinely positive, empowering force for humanity: not just a tool, but a partner in solving the problems that matter most," Discovery Loop says on its careers page, where it is hiring just one role.

Dean said at a talk last month that he and his cofounders "might make decisions that are not in the company's financial interest but are in the broader societal good." A Discovery Loop press release from last month said that the company's initial funding round was being led by Radical Ventures and Khosla Ventures, with participation from Lightspeed, Kleiner Perkins, and Doerr Capital.

Alphabet was a founding investor and cloud partner, according to Google CEO Sundar Pichai .

Dean, who was regarded as a legend inside Google, has gotten most of the attention.

But Discovery Loop's other three founders bring decades of experience in their own right, building some of Google's most important products.