【NewGen AI Summary】AlexandrWang founded ScaleAI, a data annotation platform for AI models. It recently completed a new $1 billion funding round and its valuation soared to $13.8 billion. The company plans to produce rich cutting-edge data to pave the way for AGI. ScaleAI provides data annotation services for companies wanting to train machine learning models and has raised $1 billion in Series F financing from many well-known institutions and corporate investors like Amazon and Meta. The funding has boosted ScaleAI's value significantly. Despite a 20% staff cut last year, its current valuation has reached $13.8 billion. In addition to Amazon and Meta, ScaleAI has attracted various new investors including Cisco, Intel, AMD, and many previously funded companies have returned. ScaleAI was founded in 2016 by AlexandrWang and LucyGuo, invested by the famous startup incubator YCombinator. Its clients include Meta, Microsoft, NVIDIA, OpenAI, Toyota, and Harvard Medical School. AlexandrWang became the world's youngest self-made billionaire in 2022. Before founding the company, Wang had an impressive resume. He started learning programming online in high school and participated in some world-class programming competitions. He founded ScaleAI with Guo right after his freshman year at MIT. ScaleAI has grown rapidly with continuous financing and development. With the amazing achievements of ScaleAI, AlexandrWang was selected in the Forbes 30 Under 30 list in the enterprise technology field in 2021 and is called the 'next Zuckerberg' in Silicon Valley. In the field of AI, data is recognized as one of the three basic pillars. In 2016, when ScaleAI was not yet born, the data field was blank. AlexandrWang made the decision to drop out of school and start a business to solve the data problem in AI. ScaleAI has achieved great success in a short time and can tailor data services for enterprise customers in different industries. The CEO of ScaleAI positions the company as an infrastructure provider for the entire AI ecosystem and builds a 'data foundry'. ScaleAI has started to collaborate with experts in different fields. Data is the lifeblood of AI, so companies in the data management and processing field are at the forefront. There are still major problems with AI data. AlexandrWang wrote on the ScaleAI website that 'data enrichment is not the default but a choice that requires bringing together the best talents in engineering, operations, and AI'. ScaleAI's vision is to 'enrich data' and expand the frontier LLM to a larger order of magnitude to 'pave the way for AGI. We should not be limited by data in the process of reaching GPT-10'. References: This article is from the WeChat public account: NewGen AI (ID: AI_era).
ScaleAI raises $1 billion, valuation soars to $13.8 billion
Attracts diverse investors including Cisco, Intel, AMD
Founded by AlexandrWang and LucyGuo in 2016
Clients include Meta, Microsoft, NVIDIA, and more
Wang's background and achievements
ScaleAI's growth and success
Role as an infrastructure provider
Data is crucial and has challenges
Vision for data enrichment