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Bond Capital is leading a new investment for AI music startup Suno, which would be valued at around $5 billion, Axios Pro has learned.

Why it matters: AI has VCs backing consumer tech again.

Flashback: Axios reported on the valuation earlier this month, and Billboard reported Suno is expected to raise over $250 million.

Suno, which allows users to create full pieces of music, was valued at $2.45 billion last fall in a Menlo Ventures-led round.

ARR grew to $300 million despite ongoing copyright lawsuits.

Zoom out: Bond also recently invested in Eleven Labs, an AI voice generation company last valued at $11 billion.

State of play: Suno's not the only consumer entertainment tech getting investor attention.

Spotify, which Bond co-founder Mary Meeker backed while at Kleiner Perkins, last week announced a paid AI remix tool in partnership with Universal Music Group.

While it can't create music from scratch, Spotify's tool can create personalized remixes and swap vocals on existing pieces for subscribers.

Company shares have surged nearly 22% since the announcement.

Zoom out: Investors and companies see big potential in hyper-personalizing movies and games, too.

Decart, recently valued at $4 billion, has created a model that can edit live-streams in real time, and a recent Brian Eno documentary used generative AI to create a movie that is different with every viewing.

Scoop: Bond to lead round in music generator Suno, valuing it over $5B

As entertainment companies rush to personalize using AI.

Illustration of Ben Franklin making the hardcore hand symbol. 

Bond Capital is leading a new investment for AI music startup Suno, which would be valued at around $5 billion, Axios Pro has learned.Why it matters: AI has VCs backing consumer tech again.

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Scoop: Bond to lead round in music generator Suno, valuing it over $5B

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