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Scale AI's new fund raise values the firm at $14bn

Scale AI has emerged as one of the world's hottest startups following the closure of a new funding round that attracted some of the tech sector's foremost VCs.

The firm describes itself as a data foundry for AI. It offers a proprietary Data Engine that powers the world’s most advanced models, including those run by Meta, Morgan Stanley, Microsoft, OpenAI, General Motors, and Toyota Research Institute.

Its new USD 1 billion financing transaction values the firm at nearly USD 14 billion. Existing investor Accel led the round with participation from returning investors including Y Combinator, Index Ventures, Founders Fund, Spark Capital, Nvidia and Wellington Management. New investors include Cisco Investments, Intel Capital, AMD Ventures, Amazon, Meta and others.

“Data abundance is not the default; it’s a choice. It requires bringing together the best minds in engineering, operations, and AI,” said Alexandr Wang, CEO and founder of Scale AI. “Our vision is one of data abundance, where we have the means of production to continue scaling frontier LLMs many more orders of magnitude. We should not be data-constrained in getting to GPT-10.”


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June 13 2024 1:49 pm V22.4.55-2