Meta is making a $14.3 billion investment in artificial intelligence company Scale and recruiting its CEO Alexandr Wang to join a team developing “superintelligence” at the tech giant.

Meta is making its first major minority investment in an outside company as it tries to catch up to a growing field of artificial intelligence rivals.

Meta lures 28-year-old Scale AI CEO Alexandr Wang to lead new superintelligence unit after a $14.3B investment in his company

The parent company of Facebook is investing $14.3 billion in Scale AI, which offers a platform and training data for developing AI models.

Technology Technology The Big Story  Meta invests in Scale AI, taps CEO for ‘superintelligence’ push Meta, the parent company of Facebook and Instagram, is investing a

Alexandr Wang dropped out of MIT to co-found Scale and was quickly lauded as one of Silicon Valley's most promising entrepreneurs, raising funding from blue-chip venture capital firms and achieving billionaire status in his 20s.

Facebook-owner Meta has finalized the US$14.3 billion purchase of a 49% stake in data-labeling startup Scale AI, according to two sources familiar with the matter.

The investment by Meta for a 49 percent stake in Scale AI comes as the company is also developing what it calls “superintelligence.”

Meta is discussing a multi-billion dollar investment in Scale AI, according to Bloomberg. In fact, the deal value could reportedly exceed $10 billion, making it the largest external AI investment for the Facebook parent company and one of the largest funding events ever for a private company.

Meta, the parent company of Facebook and Instagram, is investing a “significant” amount in Scale AI and hiring the artificial intelligence (AI) company’s young CEO Alexandr Wang. The ...