Meta Finalizes $14.3 Billion Purchase of 49% Stake in Scale AI
Meta has finalized a $14.3 billion purchase of a 49% stake in data labeling startup Scale AI, according to sources familiar with the matter. Scale AI said late on Thursday that the deal would value it at $29 billion and that the startup’s chief executive, Alexandr Wang, would join Meta to head a new team focused on artificial general intelligence. This move marks the latest development in Silicon Valley’s race toward cutting-edge technology.
The Scale AI deal comes as Meta, which has a market value of $1.77 trillion, faces antitrust scrutiny surrounding its acquisitions of WhatsApp and Instagram. The acquisition highlights Meta’s continued focus on advancing its artificial intelligence capabilities. Founded in 2004 by CEO Mark Zuckerberg and his fellow Harvard University students, Meta has grown significantly through strategic acquisitions and innovations.
Here are some of Meta’s major deals over the years:
- Acquisition of WhatsApp
- Acquisition of Instagram
The deal is expected to significantly impact Meta’s artificial general intelligence development. With Alexandr Wang joining Meta to lead this new initiative, the company is poised to make substantial advancements in the field.
