Meta has made a significant investment in data-labeling company Scale AI, valuing it at $29 billion. As part of the deal, Scale AI’s co-founder and CEO, Alexandr Wang, is stepping down to join Meta and assist with its AI initiatives. Reports suggest Meta invested approximately $14.3 billion for a 49% stake in Scale AI, which specializes in producing and labeling data for training large language models. Jason Droege, Scale AI’s current chief strategy officer, will serve as interim CEO. The investment aims to bolster Meta’s AI capabilities as it competes with Google, OpenAI, and Anthropic. Scale AI will remain an independent entity despite the investment. — new from TechCrunch
