Isomorphic Labs, Alphabet's drug subsidiary, is reportedly discussing raising $40 billion to $50 billion

Five months after a $2.1 billion Series B, Demis Hassabis' company is reportedly aiming for more than double its valuation, without having yet tested a single AI-designed drug in humans.

Isomorphic Labs, the AI drug discovery company spun off from Google DeepMind and led by Demis Hassabis, is reportedly in preliminary discussions to raise new funds based on a valuation of at least $40 billion, and up to $50 billion, according to Bloomberg. Nothing has been signed and the conditions may still change.

A multiplied valuation before any clinical proof

Before these negotiations, Isomorphic was estimated at around $17.5 billion, after a $2.1 billion Series B round in May 2026 from Thrive Capital, Alphabet and the British sovereign wealth fund for AI, among others. The new valuation would come at a time when no molecule designed by the company has yet been administered to a patient.

The report illustrates the persistent appetite of investors for AI, at a time when DeepSeek, Moonshot and OpenAI are also looking for billions and bubble fears are intensifying.