Snorkel AI triples valuation to $3.5 billion as demand for AI training data grows

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Snorkel AI has tripled its valuation to $3.5 billion, TechCrunch reports. The company reached the new valuation amid rising demand for data used to train artificial intelligence systems.

According to the available information, the new valuation is three times the company’s previous valuation. The specific terms of the transaction or financing that led to the change were not disclosed.

Snorkel AI operates in the field of AI training data, a segment that is seeing increased interest as the development and use of artificial intelligence systems expand.

Training data is a key component in building AI systems, and stronger demand for such data was identified as a major factor behind the increase in Snorkel AI’s valuation.

The new $3.5 billion valuation places the company among the businesses benefiting from growing interest in the infrastructure and resources needed to develop artificial intelligence.