Igor Babuschkin, former co-founder of xAI, is launching River AI with the ambition to create AI agents that users can retrain and personalize. The company, incorporated in Nevada on April 20, 2026, is seeking up to $1 billion in funding at a valuation of approximately $5 billion. General Catalyst is reportedly in discussions to lead the round. Babuschkin is personally investing $100 million in the project. The company, which has no commercialized product or revenue yet, is part of the emerging neolabs phenomenon, startups raising substantial capital for long-term AI research without a ready-to-sell product.
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