Meta completes its largest investment: the company invests $14.3 billion in Scale AI startup and hires its CEO
Meta has completed a multi-billion dollar investment in Scale AI and brought the startup's CEO into its artificial intelligence team.
Meta has completed a multi-billion dollar investment in Scale AI and brought the startup's CEO into its artificial intelligence team.
Meta said it had invested in Scale, without going into details. Earlier reports suggested the funding could top $10 billion. The company has invested $14.3 billion in the AI startup, according to sources. The deal now values Scale at more than $29 billion.
As part of the investment, Scale CEO and co-founder Alexander Wang will take on a new role at Meta in the artificial intelligence team, while remaining on Scale’s board of directors, Bloomberg reports .
“Meta has completed our strategic partnership and investment in Scale AI. As part of this, we will deepen our joint work on creating data for artificial intelligence models,” the company said.
According to sources, Meta received 49% of the startup's shares, but without voting rights.
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