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Mercor pays AI contractors over $2 million a day, source says
The gig-work platform for white-collar AI training is in talks to raise $500 million at a valuation that could double its reported $10 billion worth in less than a year.
Moneywise and Yahoo Finance describes Mercor, a gig-work platform that supplies white-collar talent to AI labs including OpenAI, Anthropic, and Meta. The article says the company has tens of thousands of contractor experts working as AI trainers.
According to the piece, a Bloomberg report states Mercor pays out more than $2 million per day to contractors. The article also notes some critics have raised concerns about intrusive surveillance and labor practices.
The report frames the work as an example of AI training becoming a new form of gig labor, while also highlighting legal and classification concerns involving contractor control. It says the nature of contractor work can limit employers from directing how and when individuals work, even as open cases question Mercor’s level of control.
The article further says Mercor founders are Peter Thiel Fellows, a program that provides $250,000 grants to young people who skip or quit college. It adds that CEO Brendan Foody, CTO Adarsh Hiremath, and board chairman Surya Midha each hold about a 22% stake, and that the startup is in talks to raise $500 million at a valuation that could double its reported $10 billion worth in less than a year.