Scale AI's Alexandr Wang confirms departure for Meta
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Meta’s deal to sort-of but not really acquire AI startup Scale, giving it 49% ownership, is certainly unusual.
Scale co-founder and CEO Alexandr Wang will lead Meta’s new superintelligence unit.
By Jody Godoy (Reuters) -Facebook owner Meta's $14.8 billion investment in Scale AI and hiring of the data-labeling startup's CEO will test how the Trump administration views so-called acquihire deals,
Data-labeling firm Scale AI confirmed on Friday that it has received a "significant" investment from Meta that values the startup at $29 billion.
Forbes has learned the deal includes a provision to establish a 5-year commercial agreement in the hundreds of millions annually.
A handful of venture capital firms are set to see huge returns from their early bets on Scale AI, following Meta Platforms Inc.’s $14.3 billion mega investment in the artificial intelligence startup.
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Scale AI built its business on the labor of gig workers. But those workers likely won't benefit from their new deal with Meta.