<ul data-eligibleForWebStory="true"><li>Surge AI, a data labeling company, is planning a $1 billion funding round, which would be its first ever.</li><li>The company, founded by former Google and Meta engineer Edwin Chen, is aiming for a valuation of more than $15 billion.</li><li>Surge AI took in over $1 billion in revenue last year, benefitting from Scale AI's customer losses following Meta's investment.</li><li>The company's competitors like OpenAI and Google are also capitalizing on Scale AI's customer losses.</li></ul>

Surge AI Reportedly Targeting $1 Billion in First-Ever Fundraise

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