Meta has taken a 49% stake in Scale AI for $14.3 billion, valuing the data-labeling startup at $29 billion. As a part of the deal, Scale’s 28-year-old CEO Alexandr Wang will be part of Meta to go its new superintelligence unit.
Wang, a university dropout who constructed Scale into a significant AI information agency, will stay on Scale’s board. Meta’s purpose with this transfer is to herald a powerful enterprise chief to spice up its AI efforts, which have lagged behind rivals like OpenAI and Google.
Scale’s Chief Technique Officer, Jason Droege, will take over as interim CEO. A number of Scale staff may even transfer to Meta with Wang.
Regardless of the huge funding, Meta is not going to take a board seat at Scale. Nonetheless, the deal has raised considerations that rival AI labs would possibly cease utilizing Scale’s companies on account of Meta’s deep involvement.
The funding marks Meta’s second-largest ever after WhatsApp.
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