Scale AI and Anduril are Both Valued near $12 Billion

A new military industrial AI complex now has foundations.

Hey Everyone,

This month in May, 2024 I’ve been keeping an eye on flashy AI startups like Scale AI and Anduril.

Part of the Machine Economy assumes AI takes on a bigger role in society, like military automation. Scale AI and Anduril have unique contributions here.

Is America Feeling Lucky?

The Bloomberg Original with Anduril hipster leader:

• Emily Chang meets Anduril founder Palmer Luckey for a closer look at his defense tech startup's autonomous fleet and software operations. (Source: Bloomberg)

Scale AI’s New Funding

Scale AI told Fortune, that their annual recurring revenue—the money paid by businesses for Scale AI’s services over extended periods of time—tripled in 2023 to an undisclosed amount and is expected to reach $1.4 billion by the end of 2024, the CEO said.

With revenue growing 200% year on year, Wang added, “we expect to be profitable by the end of this year as well.”

Chalk another one up for Nvidia! Nvidia has become a lot more aggressive investing in AI related startups.

Scale AI said on Tuesday it had raised $1 billion in a late-stage funding round led by venture capital firm Accel with participation from tech giants Nvidia, Amazon, and Meta, valuing the AI data startup at nearly $14 billion.

• Accel

• Nvidia

• Amazon

• Meta

Talk about being backed by hyperscale monopoly America?

Palmer Luckey is bringing a new bro-culture vibe to the AI private side of the Military.