Scale said late on Thursday that the deal values it at $29 billion and its CEO Alexandr Wang will join Meta to play a prominent role in the Facebook owner's AI strategy.

Meta is making an investment in artificial intelligence company Scale and recruiting its CEO Alexandr Wang to join a team developing "superintelligence" at the tech giant.

The investment by Meta for a 49 percent stake in Scale AI comes as the company is also developing what it calls “superintelligence.”

The parent company of Facebook is investing $14.3 billion in Scale AI, which offers a platform and training data for developing AI models.

Technology Technology The Big Story  Meta invests in Scale AI, taps CEO for ‘superintelligence’ push Meta, the parent company of Facebook and Instagram, is investing a

Meta is discussing a multi-billion dollar investment in Scale AI, according to Bloomberg. In fact, the deal value could reportedly exceed $10 billion, making it the largest external AI investment for the Facebook parent company and one of the largest funding events ever for a private company.

Meta Platforms (NASDAQ:META), the parent of Facebook, has made a bold $14.8 billion move by acquiring a 49% nonvoting stake in data-labeling startup Scale AI. The investment, Metas second-largest to date,

Meta is making its first major minority investment in an outside company as it tries to catch up to a growing field of artificial intelligence rivals.

In a strategic move, Meta invests $14.3 billion in Scale AI, taking a 49 per cent stake in the data-labelling startup. Scale's CEO Alexandr Wang will play a key role in shaping Meta's AI future, particularly in superintelligence.

Artificial intelligence startup Scale AI said it received a “significant new investment” from Meta that values the company at more than $29 billion and sees its chief executive join the tech titan.

Meta is investing $14.3 billion in Scale AI, acquiring a 49% stake, and valuing the company at $29 billion. Scale AI's co-founder, Alexandr Wang, will join Meta to lead its superintelligence unit, marking a significant shift in Meta's AI strategy.