At the young age of 27, Scale AI co-founder Alex Wang has once again made headlines after regaining his title as the youngest self-made billionaire in the world. Wang originally debuted on Forbes’ billionaire list in 2022 at just 25 years old, but fell off shortly after as the valuations of private tech companies dropped. Now, with Scale AI raising $1 billion at a $13.8 billion valuation, Forbes estimates Wang’s worth at $2 billion, thanks to his 14% stake in the company.
Despite being two years older, Wang is still four years younger than the world’s next youngest self-made billionaire, Stanley Tang. Wang co-founded Scale AI in 2016 after dropping out of MIT, with his former co-founder Lucy Guo, who left to start Backend Capital and Passes. Today, Scale AI provides human labor and software for tasks like labeling data for AI training in self-driving cars and large language models like ChatGPT.
Scale AI first became a unicorn in 2019 and has since seen its valuation skyrocket through several rounds of funding. The latest $1 billion infusion came from top venture capitalists and industry leaders, including Accel, Thrive Capital, Nvidia, Intel, and AMD. The support from these firms and individuals highlights the potential that Scale AI has in unlocking the power of data for AI advancements.
Dan Levine, partner at Accel, praised Scale’s focus on data for AI advancements, stating that many industry advancements would not have been possible without Scale’s data engine at the center. Wang himself is optimistic about the future of Scale AI and its role in accelerating the abundance of frontier data and paving the way for Artificial General Intelligence, as he tweeted on Tuesday.
With Wang back on the Forbes’ billionaire list and leading the charge at Scale AI, it is clear that the company has made significant strides in the AI industry and is well-positioned for continued growth and success. As AI continues to play a larger role in various industries, the innovations and advancements coming from Scale AI will likely shape the future of technology and data-driven solutions.
