CoreWeave invests in Chai, boosting AI platform’s valuation to $450m
Chai, an innovative AI platform, has announced a significant investment from CoreWeave, the leading specialized GPU cloud provider, placing Chai’s valuation at $450 million.
This deal comes on the heels of Chai’s initial fundraising in June 2023, bringing the total capital invested in the company to over $10 million.
CoreWeave’s investment underscores Chai’s growing influence in the AI and cloud computing sectors.
The new funds will be channeled towards powering one of the first large-scale AI language model competitions. This unique competition allows participants to submit language models and vie for user engagement on Chai’s popular entertainment app. Winners will be awarded cash prizes and the prestigious Chai Prize title, encouraging innovation and excellence in the field of AI.
AI Innovator Chai Reaches $450 Million Valuation Post CoreWeave Investment
Since its launch earlier this year, the Chai Developer Platform has catalyzed the development of several natural language modeling techniques. It has been instrumental in deploying Direct Preference Optimization (DPO), an advanced technique over the previously used Reinforcement Learning From Human Feedback (RLHF) by OpenAI for creating ChatGPT.
The Chai platform, with thousands of language models submitted, has become a trailblazer in introducing new AI techniques to a wide audience. This platform’s success is powered by CoreWeave’s cloud, highlighting the synergy between cloud computing and AI development.
Chai CEO William Beauchamp emphasizes the transition to an AI economy, where socializing with AI could become the norm. He expresses enthusiasm about partnering with CoreWeave in this endeavor, envisioning a future where close relationships with AI become commonplace.
Chai is leading the way in social AI, enabling communities to create and experience the world’s most entertaining AI. CoreWeave’s involvement reinforces Chai’s position as a frontrunner in the social AI space, offering innovative solutions and experiences in the rapidly evolving AI economy.
The strategic investment by CoreWeave in Chai not only boosts the AI platform’s valuation significantly but also marks a pivotal moment in the advancement of artificial intelligence. This collaboration paves the way for groundbreaking developments in AI, further solidifying Chai’s role as a leading player in the realm of social AI and digital innovation.