In June, Meta Platforms experienced a 14% stock increase as it capitalized on the market uptrend and finalized a $14 billion deal for a 49% stake in Scale AI. This acquisition aligns with the company’s increased focus on artificial intelligence, evident from bringing Scale AI founder Alexandr Wang on board to lead a new research lab on superintelligence. Meta has also pursued AI talent from OpenAI and attempted to acquire other AI firms. Additionally, the company signed a long-term energy agreement to support its growing AI needs and launched new Performance AI glasses.
Meta Platforms saw significant stock movement, finishing June with a 14% rise, buoyed by its $14 billion acquisition of a 49% stake in Scale AI, strengthening its AI initiatives.
Meta's ambition in artificial intelligence has prompted the company to secure a near-50% stake in Scale AI, alongside plans to hire AI talent from competitive firms.
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