Scale AI, an American startup that assists other businesses in building and creating their artificial intelligence (AI) tools, aims to boost its revenue to $2 billion by the end of this year.
Last year, the company generated a significant profit, with earnings of approximately $870 million. Additionally, its annual run rate reached up to $1.5 billion.
Additionally, they’re working on a deal that would allow people to buy or sell shares of the company, which could suggest that Scale AI is valued at $25 billion. Essentially, they’re rapidly expanding because many companies seek their assistance with AI, making them an increasingly valuable business.
As per the reports, Scale AI is now worth $25 billion, which is over 80% more than what it was valued at last year when they raised money. In simple terms, the company’s value has shot up a lot in just one year. Business Insider had already mentioned this deal before.
Further, an insider source also says that the firm is going to offer the tender privately to companies like Founders Fund, Greenoaks Capital, and Coatue Management.
Last year, in May 2024, Scale AI got $1 billion from investors in a deal that said the company was worth $13.8 billion. That round was led by a group called Accel, and other investors like Index Ventures and Spark Capital, Thrive Capital, and Tiger Global Management are also part of the company.
Scale AI was started back in 2016 and has grown considerably because of the huge interest in generative AI. They help big companies like Microsoft and OpenAI by organizing and labeling data, which is super important for teaching AI how to work properly.
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