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Starting for-profit startups that raise insane amounts of capital based on the promise that they will "build AGI" -- the mystical AGI of tech legends -- isn't new. The bait-and-switch and the pitch "we'll save humanity from this oh-so-dangerous ML stuff" is quite innovative tho.
Usually the pitch is just "we're going to make so much money". They're startups after all. Transparency of intent is always a good thing.
A company that starts with "V" was founded in 2010 and raised $122M since. While they did mislead investors and the public ("we're building AGI and we're going to have a human-level vision system in 5 years" (said in 2011)), they did not do so with such absolute shamelessness.
