Meta parks $14.3 billion in AI firm Scale, gets CEO onboard to head ‘superintelligence’ team

Meta (NASDAQ:META) announced a $14.3 billion investment in artificial intelligence firm Scale, acquiring a 49% stake and valuing the San Francisco-based company at over $29 billion.

A key aspect of the deal includes Scale CEO Alexandr Wang joining Meta (NASDAQ:META) to head its “superintelligence” team focused on artificial general intelligence.

Despite the major stake, Scale will maintain its operational independence and name Jason Droege as interim CEO, who was previously the company’s chief strategy officer and had past executive roles at Uber Eats and Axon.

Alongside Wang, a select group of Scale employees will also transition to Meta, though Wang will continue to serve on Scale’s board. Wang was a 19-year-old student at the Massachusetts Institute of Technology when he and co-founder Lucy Guo started Scale in 2016.

“AI is one of the most revolutionary technologies of our time, with unlimited possibility and far-reaching influence on how people, businesses and governments succeed. Scale bridges the gap between human values and technology to help our customers realize AI’s full potential. Meta’s investment recognizes Scale’s accomplishments to date and reaffirms that our path forward – like that of AI – is limitless.” said Wang.

Meta’s (NASDAQ:META) aggressive push into superintelligence research, or as many call it, artificial general intelligence, or AGI is part of Mark Zuckerberg’s broader strategy to revitalize the company’s AI ambitions.