Alexandr Wang dropped out of MIT to co-found Scale and was quickly lauded as one of Silicon Valley's most promising entrepreneurs, raising funding from blue-chip venture capital firms and achieving billionaire status in his 20s.

Meta, the parent company of Facebook and Instagram, is investing a “significant” amount in Scale AI and hiring the artificial intelligence (AI) company’s young CEO Alexandr Wang. The investment, reportedly worth about $14 billion,

Meta is making its first major minority investment in an outside company as it tries to catch up to a growing field of artificial intelligence rivals.

Meta is making an investment in artificial intelligence company Scale and recruiting Chief Executive Alexandr Wang to join a team developing “superintelligence” at the tech giant.

Technology Technology The Big Story  Meta invests in Scale AI, taps CEO for ‘superintelligence’ push Meta, the parent company of Facebook and Instagram, is investing a

Meta is discussing a multi-billion dollar investment in Scale AI, according to Bloomberg. In fact, the deal value could reportedly exceed $10 billion, making it the largest external AI investment for the Facebook parent company and one of the largest funding events ever for a private company.

Staying in the AI race is crucial for Meta, Google, Amazon and Microsoft, with the technology likely to be the future for the industry.

Meta is paying $14.3 billion to buy 49-percent of Scale AI and hire its CEO, Alexandr Wang, to reboot its troubled AI efforts.

Scale CEO and co-founder Alexandr Wang will lead Meta's new "Superintelligence" division following the deal The post Meta Invests $14.3 Billion in Scale AI as Zuckerberg Builds New Artificial Intelligence Team appeared first on TheWrap.