Scale secures one billion dollars in Series F financing

Scale AI secures one billion dollars in a new financing round. With this investment, the company aims to further strengthen its position in the field of AI data provision.

San Francisco, May 2024 - Scale AI, an AI data delivery company, has closed a Series F funding round. The company has raised one billion dollars and is now valued at 13.8 billion dollars. The financing round was led by Accel, an existing investor. Other participants included Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue and others. New investors such as Cisco Investments, DFJ Growth, Intel Capital, ServiceNow Ventures, AMD Ventures, Amazon and Meta also participated.

Scale AI's developments and projects

Scale AI was founded eight years ago by Alexandr Wang, who studied AI at MIT. The company's goal is to meet the data needs for the development and operation of AI. In recent years, Scale has made significant progress in various areas:

• The Autonomy Data Engine supports the development of autonomous vehicles.
• The Public Sector Data Engine is used in important AI programs of the US Department of Defense.
• Together with OpenAI, Scale has worked on reinforcement learning with human feedback (RLHF) experiments and further developed these techniques.
• Scale participated in the DEFCON 31 event and has worked with the U.S. Department of Defense on the evaluation and testing of large-scale language models (LLMs).

Currently, Scale supplies data to nearly every leading AI model, including organizations such as OpenAI, Meta and Microsoft.

Future plans: data abundance for advanced AI

Despite its successes to date, Scale AI continues to see challenges in the area of AI data. The increasing size of models requires more and more data. Scale is pursuing three principles to shape the future of AI data:

1. Data abundance: there should be enough data for AI applications to avoid bottlenecks.
2. Boundary data: For the development of advanced AI, new data must be continuously generated to expand the capabilities of AI.
3. Measurement and evaluation: Systems for evaluating and measuring AI should be developed to promote trust and acceptance.

With the new funding, Scale plans to launch the next phase of its development and create the basis for a comprehensive data supply in the field of AI.