Imbue was basically inactive during their first 3-4 years and the 200+ million investment was made last month. The companies I listed started shipping after they received investor money. It makes sense in context.

no product, no research, yet raised $200 million at a >$1 billion valuation

Anthropic, Cohere, Inflection, Adept and Mistral went through the same steps. All are real companies that eventually put out a product.

cc u/Witty-Elk2052