AI infrastructure company Upscale AI is reportedly in talks to secure its third round of funding since launching just seven months ago, according to Bloomberg.
This latest round of funding aims to raise about $180 million to $200 million, and would value the company at about $2 billion. The company announced a $200 million Series A in January and a $100 million seed round in September during its initial launch. Investors in the company include Tiger Global Management, Xora Innovation, and Premji Invest.
Notably, Upscale AI has not yet released a product. However, it is said to be focused on building custom chips and the infrastructure that allows them to communicate effectively. The company is betting on full-stack solutions and open standards as the future of scalable AI infrastructure.
Rumored valuations and salary increases are part of startup strategy in this AI era, where companies are growing faster and valuations are growing faster, but expectations for the next big thing outweigh everything.