The $15 Billion AI Rocket You've Never Heard Of--And It's Eyeing an IPO Soon

Applied Intuition just pulled off a $600 million raise that sends its valuation soaring to $15 billionmore than double last year's figure. The round was led by BlackRock-managed funds and Kleiner Perkins, with heavyweight backing from Franklin Templeton, Qatar's sovereign wealth fund, Lux Capital, BOND, and General Catalyst. It's a big leapand possibly a final one before the company steps into public markets. CEO Qasar Younis hinted that this could be the last round we'll raise before we go public, suggesting an IPO may be closer than many expected.

Founded in 2017, Applied Intuition has been building behind the scenes for years, supplying simulation and software tools to 18 of the world's largest automakersincluding Volkswagen and Toyota. The startup is pushing deeper into defense and industrial applications, too. It recently acquired EpiSys Science and has secured millions in U.S. Department of Defense contracts to support autonomous systems, from drones to battlefield coordination. The company's partnership with OpenAI only reinforces its ambition to become a foundational layer for AI-powered machines across land, air, and possibly even the factory floor.

Kleiner Perkins partner Mamoon Hamid believes Applied's dominance won't be easy to replicate. With hundreds of millions in revenue and a growing presence in mission-critical systems, the company may be one of the few AI-native startups with the scale and safety credibility to go public successfully. And if market sentiment aligns, Applied could soon join the ranks of enterprise-grade AI firms seeking investor capitalright alongside mobility-driven giants like Tesla TSLA, where the future of transportation and autonomy is already in motion.