Scale AI CEO Alex Wang (left).
Artificial intelligence scale
Artificial intelligence startup Scale AI said on Tuesday it had raised $1 billion in Series F funding, valuing the enterprise technology company at $13.8 billion, nearly double its last reported valuation.The San Francisco-based company ranks No. 12 on this year’s list CNBC Disruptor 50 The company has raised $1.6 billion in funding to date.
Its latest funding round was led by Accel, with participation from Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Amazon, Elad Gil (Color Genomics co-founder and serial technology investor) and Meta, All of them are new investors in the company.
Existing investors including Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, Nvidia, Tiger Global Management, Greenoaks and Wellington Management also participated in the round.
Scaled AI plays a key role in generating artificial intelligence and the rise of large-scale language models. Data (whether text, images, videos or recordings) needs to be properly labeled before it can be effectively digested by AI and used by technology. AI at scale has evolved from labeled data used to train self-driving models to now helping almost any organization looking to implement AI improve and fine-tune the underlying data, powering some of the most advanced models in use.
Founder and CEO Alexandr Wang said: “Our mission is to build a data foundry for artificial intelligence, and with today’s funding, we will enter the next stage of this journey – accelerating the enrichment of cutting-edge data as we move towards AGI Pave the way. a statement make the announcement.
AI at scale is also increasingly working with the public sector.
In August, the company was awarded a contract with the Department of Defense’s Chief Digital and Artificial Intelligence Office, which the company said will help advance the Department of Defense’s efforts to advance artificial intelligence capabilities across the military, including the Army, Navy, and Marine Corps Army, Navy programs, Air Force, Space Force and Coast Guard.
In May, Scale AI launched Donovan, an AI-powered decision-making platform and the first LLM to be deployed on classified U.S. government networks.
Wang spoke at the Artificial Intelligence Insights Forum in Washington, D.C., in December, talking about Scale AI’s role in helping support the United States and its allies.
“The race for global leadership in artificial intelligence is well underway, and our nation’s ability to effectively adopt and implement artificial intelligence will determine the future of warfare,” he said. “I firmly believe that the United States has the ability to lead the world in the application of artificial intelligence to support the United States. national security. The world is not slowing down and we must rise to the challenge.”
The company also hopes to play a role in global artificial intelligence development. The company announced in May that it would open a London office as its European headquarters and would seek support and work with the British government on its artificial intelligence initiatives.
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