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Investing.com -- Surge AI, a data-labeling startup, is in discussions to raise approximately $1 billion in its first funding round at a valuation of at least $25 billion, according to Bloomberg.
This valuation would position Surge among the most valuable startups in the United States. The company would be approaching the valuation of its competitor Scale AI, which received a $14.3 billion investment from Meta Platforms Inc (NASDAQ:META). in June, valuing it at over $29 billion including the raised funds.
Potential investors in the funding round include Andreessen Horowitz, Warburg Pincus, and TPG Inc., according to a person familiar with the matter who requested anonymity. JPMorgan Chase & Co. (NYSE:JPM) is reportedly acting as the lead advisor for Surge’s fundraising efforts.
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