Instinct, a startup whose AI agent uses its own phone and computer to book restaurants, order groceries and coordinate with other agents, raised $1bn in a Series C round led by Sequoia, Benchmark and Coatue, quadrupling its valuation to $10bn in about four weeks. The raise comes as the EU's AI Act now requires such agents to disclose they are not human when calling businesses, with fines of up to 3% of global revenue for non-compliance after a grace period ending in December.
