Major Investment by Meta in Scale AI
Social media giant Meta has made a significant investment in San Francisco-based startup Scale AI, announcing a deal that values the company at over $29 billion. As part of the investment, Scale AI's founder and CEO, Alexandr Wang, will be joining Meta to contribute to the tech company's artificial intelligence efforts.
Partnership Details
Meta is reported to be investing more than $10 billion in Scale AI, acquiring the 28-year-old CEO in the process. This move comes amidst intense competition in the AI space with companies like OpenAI, Google, and Microsoft. A Meta spokesperson confirmed the strategic partnership, stating that Wang will be involved in Meta's superintelligence projects.
Scale AI, founded in 2016 by Wang, has quickly expanded to a team of over 1,500 employees. Wang, in a statement, expressed pride in Scale AI's achievements and emphasized the company's mission to leverage AI for the benefit of customers.
Focus on Artificial Intelligence
Scale AI collaborates with businesses, governments, and research institutions to harness the power of artificial intelligence. 
Wang highlighted the company's commitment to bridging the gap between human values and technology to unlock the full potential of AI.
In addition to his role at Meta, Wang will continue to serve on Scale AI's board of directors. The company will use the new investment to drive innovation, enhance partnerships, and support equity holders.
Leadership Transition
In light of Wang's departure to Meta, tech industry veteran Jason Droege, a co-founder of Uber Eats, will assume the position of CEO at Scale AI. Droege expressed confidence in Scale AI's capabilities to tackle AI challenges and push the boundaries of what is achievable in the field.
Meta's CEO Mark Zuckerberg recently highlighted the company's generative AI assistant, Gen AI, which boasts over a billion monthly users across Meta's platforms.
Overall, Meta's investment in Scale AI underscores the growing importance of artificial intelligence in shaping the future of technology and innovation.
