Jonathan Kitchen
In a bid to lead the next wave of AI innovation, Meta (NASDAQ:META) is creating a “superintelligence” division dedicated to developing cutting-edge artificial intelligence technologies.
Meta Superintelligent Labs will be led by Alexandr Wang, the former CEO of Scale who Meta (NASDAQ:META) lured away after making a $14.3B investment for a 49% stake in the company. Along with Wang, a select group of Scale employees and researchers from OpenAI, Anthropic and Google (GOOG) have also joined the Meta superintelligence team.
In a letter to employees viewed by Bloomberg, Meta CEO Mark Zuckerberg said, “as the pace of AI progress accelerates, developing superintelligence is coming into sight. I believe this will be the beginning of a new era for humanity, and I am fully committed to doing what it takes for Meta to lead the way.”
To fund the push into superintelligence, Meta (NASDAQ:META) is attempting to raise $29B with $3B coming from private equity firms like Apollo Global Management (APO), KKR (KKR), Brookfield, Carlyle (CG), and Pimco, and another $26B in debt. The company is also securing energy agreement to power AI data centers with four clean energy agreements with Invenergy for 791 additional megawatts of solar and wind power.
Meta (META) shares are in the green for a third consecutive day at a record high of $747.90.