Scale AI, a data-labeling company, has received a significant investment of $14.3 billion from Meta, valuing it at $29 billion. As part of the investment, Scale AI's co-founder and CEO, Alexandr Wang, will step down to join Meta and contribute to its AI initiatives. Jason Droege, Scale's chief strategy officer, will serve as interim CEO. The investment aims to help Scale pay shareholders and fuel growth while maintaining its independence, crucial for providing data to top AI labs. Meta's commitment reflects the fierce competition among AI companies, seeking to bolster their capabilities.
Data-labeling company Scale AI has secured a significant investment from Meta, boosting its valuation to $29 billion and enhancing AI development efforts.
Meta's $14.3 billion investment for a 49% stake in Scale AI underscores the intensifying competition in the AI sector, particularly in training data.
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