Meta invests $14.8 bln in Scale AI, hires its 28-year-old CEO

Meta, the parent company of Facebook, has invested $14.8 billion in Scale AI, a data-labeling startup, in a deal that values the company at $29 billion. As part of the agreement, Scale AI’s 28-year-old CEO, Alexandr Wang, will step down to join Meta’s artificial intelligence (AI) initiatives.

​Meta, the parent company of Facebook, has invested $14.8 billion in Scale AI, a data-labeling startup, in a deal that values the company at $29 billion. As part of the agreement, Scale AI’s 28-year-old CEO, Alexandr Wang, will step down to join Meta’s artificial intelligence (AI) initiatives.