Chai, a Palo Alto, CA-based platform for Chat AI, has received an investment placing Chai at a $450 million valuation. The amount of the deal was not disclosed.
The investment was from CoreWeave in the form of GPU compute credits.
Coreeveloper of a cloud infrastructure platform intended to provide computing resources for blockchain and other projects.
Chai Use of Funds
The company will use the funds to develop its AI language model competitions, allowing competitors to submit language models and compete for user engagement in its app.
Led by CEO William Beauchamp, Chai provides a developer platform that has already resulted in the inception of natural language modeling techniques. With some LLMs created and submitted to its platform, the company deployed techniques such as Direct Preference Optimization (DPO), an advancement on the previous technique, Reinforcement Learning from Human Feedback (RLHF), which OpenAI used to create ChatGPT. Its mission is to democratize AI and make it accessible to everyone.
Company: CHAI RESEARCH CORP.
Funding Month: December 2023
Lead Investors: CoreWeave
Company Website: https://chai-research.com/
Software Category: Chat AI