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Surge AI is apparently pursuing a $1B funding round to reach a $25B valuation, according to Bloomberg.
Surge is a prominent data-labeling startup. It’s rival, Scale AI, received a massive $14.8B investment from Meta Platforms (NASDAQ:META) last month, which propelled it to about a $29B valuation.
Founded in 2020, Surge is in discussions with Andreessen Horowitz, Warburg Pincus and TPG Inc. to participate in the round, which would be its first, according to the report that cited someone familiar with the matter. Surge has worked with multiple large AI companies, including OpenAI, Anthropic, Meta and Google (GOOG)(GOOGL).
Data labeling involves the tagging of raw data to make it understandable by artificial intelligence models.