LEAKED: The deck Yann LeCun’s startup is using to raise €500m at €3bn valuation

A breakdown of the ideas behind the deck Meta’s former chief AI scientist is using to raise €500M

Last month, Yann LeCun publicly announced he’s leaving Meta to launch a new AI startup focused on world models.

According to reporting by the Financial Times and Sifted, the company (AMI Labs) is in talks to raise €500M at around a €3B valuation, with a global research footprint and a clear mission: build AI systems that understand the physical world, not just language.

That part is public.

What’s less public is how LeCun and his team are thinking about why the current AI paradigm won’t get us there — and what they believe replaces it.

The fundraising deck for this round has been circulating privately. It’s clearly confidential, so I won’t publish it or quote from it directly.

But I’ve reviewed how the thesis is framed, and it’s one of the clearest explanations I’ve seen of how top AI researchers see the next phase of AI unfolding.

Here’s what you need to know.