Snorkel AI triples valuation to $3.5B as demand for AI training data booms

Snorkel AI, a startup that helps build training datasets and simulated environments for AI systems, raised $350 million in funding at a $3.5 billion valuation, nearly tripling its previous valuation from 17 months earlier. The company shifted from offering software for data-labeling automation to providing completed datasets using a hybrid approach that combines synthetic data generation with human experts. Snorkel's annualized revenue run rate reached $375 million, an eighteenfold increase over the last 12 months, reflecting strong demand from AI labs for high-quality training data needed to develop AI systems.