Mercor reportedly targets $20B valuation
Mercor is reportedly discussing a new round at twice its previous valuation as AI training demand keeps scaling.
Mercor’s reported valuation talks show how quickly investors are repricing the infrastructure behind model training.
What happened
AI training startup Mercor is reportedly in early-stage talks to raise funding at a $20 billion valuation, double the $10 billion valuation attached to its previous financing. CEO Brendan Foody has also said the company’s annualised revenue run rate crossed $2 billion, while Mercor announced the acquisition of AI-agent training company Deeptune.
Why it matters
Mercor sits in the layer connecting human expertise with model training and evaluation. A potential doubling in valuation would underline how much capital is flowing into companies that supply the labour, data and feedback loops needed to improve advanced AI systems.
The bigger picture
The AI stack is expanding beyond chips and foundation models. Training operations, expert data, model evaluation and agent training are becoming large businesses in their own right, and investors are increasingly valuing the infrastructure around model improvement as a strategic layer of the market.