Meta finalises investment in Scale AI, valuing startup at $29 billion

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Meta Platforms has finalised an investment in Scale AI that values the startup at over $29 billion, Scale AI said on Thursday.

Two sources familiar with the matter said that Meta’s investment in Scale AI amounts to $14.3 billion.

The sources said that Scale CEO and co-founder Alexandr Wang will join a new “superintelligence” unit inside Meta to achieve artificial general intelligence (AGI), a term that refers to machines that can match or surpass human capabilities.

Scale’s chief strategy officer, Jason Droege, will serve as its interim CEO, Scale AI…



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Meta finalises investment in Scale AI, valuing startup at $29 billion


Meta Platforms has finalised an investment in Scale AI that values the startup at over $29 billion, Scale AI said on Thursday.

Two sources familiar with the matter said that Meta’s investment in Scale AI amounts to $14.3 billion.

The sources said that Scale CEO and co-founder Alexandr Wang will join a new “superintelligence” unit inside Meta to achieve artificial general intelligence (AGI), a term that refers to machines that can match or surpass human capabilities.

Scale’s chief strategy officer, Jason Droege, will serve as its interim CEO, Scale AI…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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