Bret Taylor’s AI Firm to Get Funds at Near-$1 Billion Value (1)

OpenAI Chairman Bret Taylor is close to finalizing new investment that could confer unicorn status on Sierra, an enterprise-focused AI startup he co-founded with a former Google colleague last year.

Sequoia Capital is expected to lead an $85 million investment, a person familiar with the matter said, asking to remain anonymous discussing a private transaction. The deal would value the company at almost $1 billion. Spokespeople for Sierra and Sequoia declined to comment.

The deal marks the latest infusion of capital into the burgeoning AI arena. Investors from the US to China are examining AI ventures and projects, energized after ...