AI Startup Scale Offered Funding at $3 Billion Valuation

Scale AI, a startup that helps companies such as Lyft, Toyota and DoorDash train artificial intelligence systems to recognize objects and analyze written documents, could soar past a $3 billion valuation with a new financing, according to two people familiar with the matter.

The San Francisco–based company has received an offer of investment from Tiger Global Management valuing Scale at $3.2 billion pre-money, or triple its prior valuation, according to one of these people. It’s unclear whether Scale, which is led by 23-year-old CEO Alexandr Wang, has accepted Tiger’s offer or whether it has chosen another growth-stage backer to lead the financing. If the deal closes, it would add to a string of high-valuation investments for young startups amid record levels of VC fundraising.