Meta acquires major stake in Scale AI, poaches CEO
Meta just grabbed a 49% stake in Scale AI—a company that labels data for training artificial intelligence—for a whopping $14.3 billion. This move values Scale AI at $29 billion and brings its CEO, Alexandr Wang, over to Meta to lead new superintelligence projects. Even with this big buy-in, Scale AI will keep running on its own with Jason Droege as interim CEO.
Meta's AI ambitions and the potential impact on competitors
Meta is doubling down on AI to compete with giants like OpenAI and Google. But there's a twist: since Meta now owns nearly half of Scale AI, other tech companies might lose access to some of the crucial data-labeling services they rely on.
Scale AI's board; now, also Meta's superintelligence projects
Wang co-founded Scale AI back in 2016 when he was just 19 and quickly made a name for himself as an entrepreneur. He'll stay on Scale's board but will now also lead Meta's new push into advanced AI.