Scale AI has raised $1bn in a new funding round, doubling the data-labelling start-up’s valuation to about $14bn and paving the way for an initial public offering.
The deal underscores the critical nature of data in the race to build super-powerful artificial intelligence systems and the premium investors are willing to put on a commodity many regard as the new oil.
The San Francisco-headquartered company, which provides accurately labelled data for companies building AI models, has tapped existing investors, including venture capital firms Accel, which is leading the round, Nvidia, Josh Kushner’s Thrive Capital, Tiger Global Management and Index Ventures. New investors include Amazon, Meta, Intel Capital and AMD Ventures.
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