Mercor, the AI data labeling firm founded by the world’s youngest self-made billionaires, is in talks to raise $500 million at a valuation of $20 billion, according to a source familiar with the fundraising.

The new round would double the startup’s worth in less than a year; Mercor raised $350 million at a $10 billion valuation in September from backers including Felicis Ventures, Benchmark and General Catalyst. It’s unclear what investors would participate in the new round.

The deal is expected to close later this........

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