Meta buys into AI company, hires CEO
Meta is buying into Scale AI for $14.3 billion (equivalent to €12.4 billion). With this move, CEO Mark Zuckerberg hopes to close the gap in AI. Part of the deal is that Scale AI's CEO will be employed by Meta.
The deal involves Alexandr Wang, the current CEO and founder of Scale AI, who will revitalize Meta's AI activities and remain involved with his old company, according to the press release about the deal .
Data labeling by peopleScale AI helps train AI models from other companies, including Google and OpenAI, by having humans label and date data, often done by workers in low-wage countries, according to tech site The Verge .
Meta’s investment values Scale AI at $29 billion. In return for the injection, Meta will receive a minority stake in the AI company. According to The Verge, it’s 49 percent.
Clever trickThis is also a trick to buy AI knowledge without the company itself, which could potentially lead to a blockade by regulators. For example, Microsoft has a stake in OpenAI.
Meta wants to use the money to grow faster, and reward existing shareholders for their investment. Scale AI will remain independent, and therefore also collaborate with other large companies.
The company was founded in 2016 by Wang. The company now has 1,500 employees, affectionately called Scaliens by Wang. "It is now time for the next step," the founder wrote in an internal memo posted on social media platform Threads .
In the video below we show how easy it is to write a book with AI.
RTL Nieuws
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