This deal brings the total capital invested in Chai to over $10 million
(PRUnderground) November 30th, 2023
Chai is the leading platform for social AI, empowering the community to create and experience the world’s most entertaining AI
AI platform Chai announced an agreement by specialised cloud computing provider CoreWeave to make an investment in Chai. CoreWeave invested in Chai in the form of GPU compute credits, placing Chai at a $450 million valuation. This deal followed shortly after Chai’s initial fundraising, bringing the total capital invested in Chai to over $10 million.
CoreWeave’s strategic investment in Chai will go towards powering one of the first large-scale AI language model competitions, allowing competitors to submit language models and compete for user engagement in Chai’s popular entertainment app. 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 has already resulted in the inception of several natural language modelling techniques, with others being deployed perhaps for the very first time to such a wide audience. 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.
Every message sent on the social AI platform is powered by CoreWeave’s cloud. “As the world transitions to an AI economy, everyone will socialize with AI.” said Chai CEO William Beauchamp, “Maybe your next best friend will live in the cloud. We’re glad to be partnering with CoreWeave on our mission.” With Nvidia releasing thousands of H100s in Q1 ’24 we are excited to see the transition accelerate.
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Original Press Release.