Chai Receives Investment From CoreWeave

USA – Chai, a Palo Alto, CA-based provider of a platform for Chat AI, received an investment from CoreWeave.

CoreWeave invested in Chai in the form of GPU compute credits, placing Chai at a $450m valuation. The amount of the deal was not disclosed, and followed shortly after Chai’s initial fundraising, which brought its total capital to over $10m.The company intends to 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 modelling 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.04/12/2023