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Arena Raises $200 Million at a $3.1 Billion Valuation to Rank AI Models

Arena, the crowd-sourced AI leaderboard, says it has raised a $200 million Series B at a $3.1 billion valuation, co-led by Lightspeed and Khosla Ventures. What the company claims, what TechCrunch reports about how it makes money, and why a "neutral" judge selling to labs matters.

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