Scale AI raises $1 billion in Accel-led late-stage fundraise-July 2024-www.financetom.com

Scale AI raises $1 billion in Accel-led late-stage fundraise

News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities

Scale AI raises $1 billion in Accel-led late-stage fundraise

May 21, 2024 3:49 AM

May 21 (Reuters) - Scale AI said on Tuesday it had raised $1 billion in

a late-stage funding round led by venture capital firm Accel with participation

from tech giants Nvidia ( NVDA ), Amazon ( AMZN ), and Meta, valuing

the AI data startup at nearly $14 billion.

Top tech companies are racing to build AI into their products and services.

Startups catering to the surge in demand for AI chips and machine learning have

been a bright spot in an otherwise subdued private funding market.

The San Francisco, California-based company provides data used to train AI

applications.

Data is the building block of the AI revolution, which has taken Wall Street

by storm since ChatGPT released its large language model in 2022.

Other high-profile investors who participated in the round included Coatue,

Tiger Global Management, Intel Capital, and AMD Ventures.

Previous page： Why did Trell Co-Founder send an angry note to investors? What we know so far Next page： Startup Street: Oxyzo joins the unicorn club; Athiya Shetty invests in Stage3

Comments

Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.

Show More Comments

Related Articles >

Why did Trell Co-Founder send an angry note to investors? What we know so far

Mar 25, 2022

In what could be a replay of the boardroom battle at BharatPe, social commerce startup Trell Co-Founder Pulkit Agarwal questioned the nature of a forensic audit that was conducted by EY India.

Startup Street: Oxyzo joins the unicorn club; Athiya Shetty invests in Stage3

Mar 25, 2022

One unicorn gives birth to another as Oxyzo, the financing vertical of B2B marketplace OfBusiness, bags $200 million in a series A funding round led by Alpha Wave Global at a valuation of $1 billion. Actor Athiya Shetty steps into the startup world as she invests in social commerce platform Stage3.

Twice as sweet: This Indian couple turned their startups into unicorns

Mar 23, 2022

Ruchi Kalra and Asish Mohapatra’s startups, Oxyzo Financial Services and OfBusiness, became unicorns with a valuations of over $1 billion.

D2C brand Plum gets $35 mn in Series C round from A91 Partners and others

Mar 23, 2022

Vegan beauty brand Plum which has raised USD 35 million in Series C round from A91 Partners and others will use the fresh capital to strengthen its omnichannel presence, build new categories in addition to its core skincare category, enhance R&D capabilities, and onboard high-quality talent with a focus on investments in marketing and technology.