AI platform Chai announced that CoreWeave (the leading specialized GPU cloud provider) will invest in the company, placing Chai at a $450 million valuation. This deal followed shortly after Chai’s initial fundraising in June 2023, bringing the total capital invested in Chai to over $10 million.
The new funding will go toward powering one of the first large-scale AI language model competitions, enabling competitors to submit language models and compete for user engagement in Chai’s popular entertainment app. The winners in the competition are rewarded with cash prizes and the prestige of the Chai Prize title.
Launched earlier this year, the Chai Developer Platform already resulted in the inception of several natural language modeling techniques, with others being deployed perhaps for the very first time to such a wide audience. And with thousands of LLMs created and submitted to the Chai platform, they were the first to deploy techniques such as Direct Preference Optimization (DPO) – an advancement on the previous state of the art technique Reinforcement Learning From Human Feedback (RLHF), which OpenAI used to create ChatGPT.
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KEY QUOTE:
“As the world transitions to an AI economy, everyone will socialize with AI. Maybe your next best friend will live in the cloud. We’re glad to be partnering with CoreWeave on our mission.”
— Chai CEO William Beauchamp
