Meta is pouring over $10 billion into Scale AI and poaching its CEO

Meta has made a significant investment in the artificial intelligence startup Scale AI, after which the latter's founder will join the technology giant. This is reported by UNN with reference to AFP.

Details

According to the company, Meta has invested more than $10 billion in Scale AI, valuing the startup at more than $29 billion. As a result of the deal, Scale AI founder and CEO Alexander Van will join Meta, where he will work on the company's artificial intelligence initiatives.

"Meta's investments recognize Scale's achievements to date and confirm that our path forward - like that of artificial intelligence - is limitless," said Van.

"Scale bridges the gap between human values and technology, helping our clients fully realize the potential of artificial intelligence," he added.

The company also noted that Meta will own a minority stake in the startup after the deal. At the same time, Scale AI plans to use the proceeds to accelerate innovation, strengthen partnerships and distribute some of the funds to shareholders.

It is also known that Jason Droge, an industry veteran and co-founder of Uber Eats, will become the CEO of Scale AI.

"Scale has become a leading driver in accelerating the development of artificial intelligence. We have built the strongest foundation for solving the data challenges that artificial intelligence creates and pushing the boundaries of what is possible," said Droge.

Additional

Scale AI collaborates with governments, laboratories and businesses, providing them with AI solutions, the company said.

Mark Zuckerberg, head of Meta, recently stated that their generative AI assistant is used by one billion people every month on the company's platforms.

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