Meta Platforms AI Developments

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Meta will pay $14.8 billion for 49% stake in Scale AI and startup’s CEO, the Information reported

  • Meta has agreed to a 49% stake in Scale AI for $14.8 billion, the Information reported citing two people familiar with the matter.
  • Meta will send cash directly to Scale AI shareholders and give Scale’s CEO, Alexandr Wang, a senior position within Meta.
  • The deal raises Scale’s valuation to $28 billion from $13.8 billion last year.
  • Bloomberg reported today that Wang would join Zuckerberg’s new AI team code-named Superintelligence Labs group.

https://ng.investing.com/news/stock-market-news/meta-takes-49-stake-in-scale-ai-for-148-billion--the-information-93CH-1961058

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