Chai receives investment from CoreWeave, achieves $450M valuation

Chai, an AI platform, received an investment from CoreWeave, a top GPU cloud provider. This brings Chai’s valuation to $450M. This came after Chai’s first fundraising in June 2023, bringing their total investment to over $10 million. The additional funds will support a big AI language model competition by Chai. Participants can submit models and compete for user engagement in Chai’s entertainment app. Winners get cash prizes and the title of Chai Prize.

The Chai Developer Platform, started this year, introduced various natural language modeling methods. Some of these techniques are being used widely for the first time. Thousands of LLMs (language models) were made and shared on Chai. They were pioneers in using techniques like Direct Preference Optimization (DPO) and Reinforcement Learning From Human Feedback (RLHF), which OpenAI used for ChatGPT.

Chai CEO William Beauchamp said in a statement:

“As the world transitions to an AI economy, everyone will socialize with AI. Maybe your next best friend will live in the cloud. We’re glad to be partnering with CoreWeave on our mission.”