Meta poaches 28-year-old Scale AI CEO after taking multibillion dollar stake in startup

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Facebook-owner Meta has invested in Scale AI in a deal that values the data-labeling startup at $29 billion and brings in its 28-year-old CEO, Alexandr Wang, to play a prominent role in the tech giant’s artificial intelligence strategy.

Meta will take a 49% stake for $14.3 billion, according to two sources familiar with the matter.

“We will deepen the work we do together producing data for AI models and Alexandr Wang will join Meta to work on our superintelligence efforts,” Meta said in a statement that did not disclose financial terms.

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Meta poaches 28-year-old Scale AI CEO after taking multibillion dollar stake in startup


Facebook-owner Meta has invested in Scale AI in a deal that values the data-labeling startup at $29 billion and brings in its 28-year-old CEO, Alexandr Wang, to play a prominent role in the tech giant’s artificial intelligence strategy.

Meta will take a 49% stake for $14.3 billion, according to two sources familiar with the matter.

“We will deepen the work we do together producing data for AI models and Alexandr Wang will join Meta to work on our superintelligence efforts,” Meta said in a statement that did not disclose financial terms.

The main…



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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