Chai Receives Investment From CoreWeave

Chai Receives Investment From CoreWeave

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.

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.

Funding Details

Company: CHAI RESEARCH CORP.

Raised: Undisclosed

Round: Unknown

Funding Month: December 2023

Lead Investors: CoreWeave

Additional Investors:

Company Website: https://chai-research.com/

Software Category: Chat AI