Scale AI Tips the Scales With $1 Billion New Round

<p><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; <a href&equals;"https&colon;&sol;&sol;cts&period;businesswire&period;com&sol;ct&sol;CT&quest;id&equals;smartlink&amp&semi;url&equals;https&percnt;3A&percnt;2F&percnt;2Fscale&period;com&percnt;2F&amp&semi;esheet&equals;54005536&amp&semi;newsitemid&equals;20240521674964&amp&semi;lan&equals;en-US&amp&semi;anchor&equals;Scale&plus;AI&amp&semi;index&equals;1&amp&semi;md5&equals;adeebc0b0f4b6f0b8431c1383f872a4d" target&equals;"&lowbar;blank" rel&equals;"nofollow noopener" shape&equals;"rect">Scale AI<&sol;a>&comma; a data foundry for AI&comma; has tipped the scales after a &dollar;1 billion financing transaction&comma; bringing the company to a valuation of &dollar;13&period;8 billion&period; Existing investor Accel led the round with participation from returning investors including Y Combinator&comma; Nat Friedman&comma; Index Ventures&comma; Founders Fund&comma; Coatue&comma; Thrive Capital&comma; Spark Capital&comma; NVIDIA&comma; Tiger Global Management&comma; Greenoaks&comma; and Wellington Management&period; New investors include Cisco Investments&comma; DFJ Growth&comma; Intel Capital&comma; ServiceNow Ventures&comma; AMD Ventures&comma; WCM&comma; Amazon&comma; Elad Gil&comma; and Meta&period;<&sol;p>&NewLine;<p>Scale’s mission is to build the data foundry for AI&period; With today’s funding&comma; the company is moving into the next phase of that journey – accelerating the abundance of frontier data that will pave our road to artificial general intelligence&period; Scale has a deep track record solving the data challenges of companies such as OpenAI&comma; Meta&comma; and Microsoft&period; This new funding will also enable Scale to build upon its prior model evaluation work with enterprise customers&comma; the U&period;S&period; Department of Defense&comma; and work on the White House-announced DEFCON 31 red-teaming event to deepen its capabilities and offerings for both public and private evaluations&period;<&sol;p>&NewLine;<p>As AI models evolve&comma; the quality&comma; quantity&comma; and complexity of frontier data—the data needed to drive and ensure performance—increases exponentially&period; As the data foundry for AI&comma; Scale powers the data behind the end-to-end AI lifecycle&comma; ensuring model builders and enterprises alike have the data they need to deploy AI confidently&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Data abundance is not the default&semi; it’s a choice&period; It requires bringing together the best minds in engineering&comma; operations&comma; and AI&comma;” said Alexandr Wang&comma; CEO and founder of Scale AI&period; &OpenCurlyDoubleQuote;Our vision is one of data abundance&comma; where we have the means of production to continue scaling frontier LLMs many more orders of magnitude&period; We should not be data-constrained in getting to GPT-10&period;”<&sol;p>&NewLine;<p>&&num;8220&semi;From day one&comma; Scale has been laser-focused on unlocking the potential of data for AI&period; All of the major advancements in the industry we have today wouldn’t have been possible without Scale’s data engine at the center&comma;&&num;8221&semi; said Dan Levine&comma; partner at Accel&period; &&num;8220&semi;Their vision is why we first partnered with Scale in the earliest days and why we continue to believe that their expertise remains paramount in addressing the industry&&num;8217&semi;s growing needs for high-quality data as the AI industry continues to push the boundaries of what’s possible&period;&&num;8221&semi;<&sol;p>&NewLine;<p>The mix of primary and secondary financing brought Scale’s valuation to &dollar;13&period;8 billion&period;<&sol;p>&NewLine;<p>J&period;P&period; Morgan and Allen &amp&semi; Co served as placement agents to Scale AI in connection with this transaction&period;<&sol;p>&NewLine;