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Meta in Talks over Scale AI Investment that Could Exceed $10 Billion, Bloomberg Reports
- Meta finalized a $14.3 billion investment to acquire a 49% stake in Scale AI, valuing the startup at $29 billion as of late Thursday.
- The deal follows Scale AI's rapid growth since its 2016 founding and a $14 billion valuation in May 2024, fueled by its data-labeling services for AI and autonomous vehicles.
- CEO Alexandr Wang, a 28-year-old co-founder, will join Meta to lead a new AI research lab focused on superintelligence amid Meta’s challenges in AI leadership and product launches.
- In January, Wang emphasized that the U.S. must significantly expand its computing infrastructure to keep pace in the AI competition with China.
- The investment could accelerate Meta’s AI progress, but it risks alienating other AI labs and intensifies competition amid ongoing regulator scrutiny and internal innovation struggles.
165 Articles
165 Articles
Scale AI confirms ‘significant’ investment from Meta, says CEO Alexanr Wang is leaving
Data-labeling company Scale AI confirmed on Friday that it has received a “significant” investment from Meta that values the startup at $29 billion. The startup also said its co-founder and CEO Alexandr Wang is stepping down from his role to join Meta and help the bigger company with its AI work. Reports indicate that Meta invested about $14.3 billion for a 49% stake in the startup, which produces and labels data that’s used to train the large l…
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5 things to know about Alexandr Wang, the buzzy Scale AI founder
Scale AI founder Alexandr Wang is a major focus of Meta's future AI plans.Jeff Chiu/APMeta is expected to make a nearly $15 billion investment in Scale AI.Scale's CEO, Alexandr Wang, will also become a top-level Meta executive, the startup confirmed.In January, the 28-year-old wrote a letter to Trump outlining how the US needs to invest in AI.Mark Zuckerberg is making a 28-year-old CEO the lynchpin of Meta's investment in the AI race.On Thursday…
Meta invests $14.3B in AI firm Scale
UNITED STATES – Meta said Thursday it was making a large investment in artificial intelligence company Scale and recruiting its CEO Alexandr Wang to join a team developing “superintelligence” at the tech giant. The move reflects a push by Meta CEO Mark Zuckerberg to revive AI efforts at the parent company of Facebook and Instagram as it faces tough competition from rivals such as Google and OpenAI. Meta announced what it called a “strategic part…
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