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Illustration courtesy of Magic Leap

Augmented reality startup Magic Leap is raising upwards of $1 billion in new venture capital funding, according to a Delaware regulatory filing unearthed by CB Insights. It would be Series D stock sold at $27 per share, which is a 17.2% bump from Series C shares issued in the summer of 2016.

Bottom line: Magic Leap still hasn't come out with a commercial product, having repeatedly missed expected release dates. But investors must still like what they see down in Ft. Lauderdale, given that they keep plugging in more money at increased valuations.

Digging in: Multiple sources tell Axios that the deal is closed, although we do not know exactly how much was raised. The Delaware filing is only a stock authorization, which means the Florida-based company may actually raise less. Bloomberg had reported last month that Magic Leap was raising $500 million at around a $5.5 billion pre-money valuation, with new investors expected to include Singapore's Temasek Holdings. One source suggests the final numbers should be close to what Bloomberg reported.

Go deeper

Airlines call for Biden admin's "immediate intervention" in 5G deployment

Photo: Tayfun Coskun/Anadolu Agency via Getty Images

The CEOs of leading U.S. air cargo and passenger carriers on Monday warned the Biden administration there could be "catastrophic disruption" after AT&T and Verizon deploy a new 5G service this week.

Driving the news: They said in a letter to Transportation Secretary Pete Buttigieg and other top federal officials ahead of the C-Band 5G service's deployment Wednesday that "the nation's commerce will grind to a halt" and "could potentially strand tens of thousands of Americans overseas."

Updated 3 hours ago - Energy & Environment

Thousands without power as "hazardous" winter storm lashes East Coast

Satellite imagery of the Northeastern U.S. taken by NOAA on Jan. 17. Photo: NOAA

A major winter storm lashed much of the East Coast Sunday and Monday, causing widespread power outages and disrupting travel over the holiday weekend.

The latest: Authorities in North Carolina confirmed that two people died in a car crash and that they responded 600 vehicle accidents during the storm on Sunday, per the Washington Post.

6 hours ago - Health

CDC director says COVID-19 messaging should have been clearer

Rochelle Walensky. Photo: Stefani Reynolds-Pool/Getty Images

Rochelle Walensky, director of the Centers for Disease Control and Prevention, said in an interview with the Wall Street Journal that the messaging around the COVID-19 pandemic and changing guidance should have been clearer.

State of play: Walensky is being coached by media experts and is planning to have more press briefings by herself in order to ensure that CDC is seen as an independent, scientific entity, rather than as a political one, the Journal reports.