Artificial intelligence startup Scale AI said Tuesday that it has raised $1 billion in a Series F funding round that values the enterprise tech company at $13.8 billion — almost double its last reported valuation. 12 on this year's CNBC Disruptor 50 list, has now raised $1.6 billion to date. Existing investors including Y Combinator, Nat Friedman, Index Ventures, Founders Fund, Coatue, Thrive Capital, Spark Capital, Nvidia, Tiger Global Management, Greenoaks, and Wellington Management also participated in the round. Scale AI is playing a key role in the rise of generative artificial intelligence and large language models, with the data — whether it is text, images, video or voice recordings — needing to be labeled correctly before it can be digested and used effectively by AI technology. Scale AI has evolved from labeling data used to train models that powered autonomous driving to now helping to improve and fine tune the underlying data for nearly any organization looking to implement AI, powering some of the most advanced models in use.

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Persons: Elad Gil, Y Combinator, Nat Friedman, Alexandr Wang Organizations: CNBC, Accel, Cisco Investments, Intel Capital, ServiceNow Ventures, AMD Ventures, WCM, Color Genomics, Meta, Ventures, Founders Fund, Spark Capital, Nvidia, Tiger Global Management, Wellington Management Locations: San Francisco, AGI