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Amazon, Meta back Scale AI in $1 billion funding deal that values firm at $14 billion - TL;DR CNBC

Amazon, Meta back Scale AI in $1 billion funding deal that values firm at $14 billion

Publishing timestamp: 2024-05-21 08:49:55


Summary

Scale AI raises $1 billion in Series F funding round, valuing the company at $13.8 billion. The funding round was led by Accel and includes investments from Amazon and Meta. Scale AI is playing a key role in the rise of generative artificial intelligence and large language models, and is also working with the public sector to advance AI capabilities for the military. The company is looking to play a role in AI development globally by opening a London office.


Sentiment: POSITIVE

Tickers: METAAMZN

Keywords: suppress zephrmeta platforms incamazon.com inctechnologyventure capitalbusiness newsartificial intelligencegenerative ai

Source: https://www.cnbc.com/2024/05/21/amazon-meta-back-scale-ai-in-1-billion-funding-deal.html


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