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Scale AI Raises $1B to Advance AI Data

Scale AI, the premier data foundry for artificial intelligence, has announced a monumental $1 billion financing deal
May 22, 2024

Scale AI, a leader in the AI data sector, has successfully secured $1 billion in financing, elevating its valuation to an impressive $13.8 billion. This latest funding round was spearheaded by Accel and saw participation from an array of existing investors such as Y Combinator, Index Ventures, and NVIDIA, alongside new backers including Cisco Investments, Intel Capital, and Amazon.

At its core, Scale AI is dedicated to revolutionizing the AI landscape through its pioneering data foundry. The company is now poised to accelerate its mission, driving forward the generation of frontier data essential for the advancement of artificial general intelligence. Known for its robust solutions to data challenges faced by giants like OpenAI, Meta, and Microsoft, Scale AI is set to enhance its capabilities and offerings for both public and private sector evaluations, including critical projects with the U.S. Department of Defense and the White House-announced DEFCON 31 red-teaming event.

As AI models become more sophisticated, the demand for high-quality, abundant, and complex data escalates. Scale AI is at the forefront, ensuring that AI model builders and enterprises have access to the data necessary for confident deployment. “Data abundance is not the default; it’s a choice. It requires bringing together the best minds in engineering, operations, and AI,” stated Alexandr Wang, CEO and founder of Scale AI. He emphasized the company's vision to scale frontier LLMs significantly, aiming to eliminate data constraints in the journey towards advanced AI models like GPT-10.

Dan Levine, a partner at Accel, underscored the importance of Scale AI's role in the industry: “From day one, Scale has been laser-focused on unlocking the potential of data for AI. All major advancements in the industry today are heavily reliant on Scale’s data engine. Their expertise is crucial in addressing the growing needs for high-quality data as the AI industry continues to expand.”

This significant mix of primary and secondary financing not only highlights the confidence investors have in Scale AI’s trajectory but also positions the company as a central player in the AI data ecosystem. J.P. Morgan and Allen & Co facilitated this transaction as placement agents, underscoring the high-stakes nature of this funding round.

Scale AI stands as a pivotal force in the generative AI revolution, powered by high-quality data and human insight. Its proprietary Data Engine underpins the most advanced models globally, offering a roadmap for organizations to effectively leverage AI. Trusted by industry leaders such as Meta, Microsoft, the U.S. Army, and General Motors, Scale AI continues to set the standard in data-driven AI innovation.

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