Social AI platform Chai announces strategic investment from CoreWeave at $450M valuation cap
Sunday, October 1, 2023
Leading social AI platform Chai empowers the community to create and experience the world's most entertaining chat AI.
PALO ALTO, Calif., Sept. 24, 2023 /PRNewswire/ -- Earlier this month AI platform Chai announced a partnership with specialized GPU provider CoreWeave, investing $8 million in GPU compute capped at a $450 million valuation. The investment follows several months on from Chai's pre-seed round, in which it raised $2 million to further the company's mission of creating a more open and democratic AI platform.
CoreWeave's strategic investment in Chai will go towards powering one of the first large-scale AI language model competitions, where competitors submit language models to compete for user engagement in Chai's popular entertainment app. Winners in the competition are rewarded with cash prizes and the prestige of the title.
It will also allow them to continue developing their in-house technology, which is already out-performing OpenAI's models on the platform. User engagement, as measured by screen-time, is the north star metric at Chai and their dedication to optimizing towards this is demonstrated clearly in posts from users sharing screen time stats of over 10 hours.
Every message sent on the platform goes through CoreWeave's servers. "They have the best insight into the inner workings of our business out of everyone," said Chai CEO William Beauchamp. "We're proud to be partnering with them. As our user base continues to grow, so will our demand for CoreWeave's infrastructure offerings."
For more information visit, https://www.chai-research.com
Press Contact
Joe Nelson
+1 (626) 594-8966
https://www.chai-research.com/
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SOURCE Chai Research
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