Meta Platforms has announced a $14.3 billion investment for a 49% non-voting stake in data-labeling company Scale AI, valuing the firm at $29 billion. This deal, revealed recently, aims to bolster Meta’s AI capabilities and involves recruiting Scale’s 28-year-old co-founder and CEO, Alexandr Wang, to lead a new “superintelligence” division.
Alongside Wang, Scale’s chief strategy officer, Jason Droege, will serve as interim CEO, with several Scale employees transitioning to Meta. Despite concerns from Scale’s existing clients regarding Meta’s partial ownership, the company has committed to not gaining board seats or accessing customer data. This marks Meta’s second-largest acquisition after WhatsApp and reflects its aggressive strategy to compete with rivals like Google and OpenAI.
