Meta dedicates $14.3 billion to artificial intelligence startup Scale while bringing its CEO Alexandr Wang to lead the development of “superintelligence.”
Meta CEO Mark Zuckerberg announced the deal on Thursday to speed up AI development at Facebook and Instagram’s parent company. Scale’s valuation exceeds $29 billion according to the company.
The deal enables Scale to operate independently but Meta gains control of 49% ownership through the expanded commercial partnership. Wang will establish a new superintelligence division at Meta while maintaining his position on Scale’s board after departing with a few colleagues.
The interim CEO position at Scale will be taken by Jason Droege who previously worked at Uber Eats as chief strategy officer.
Zuckerberg introduced the term “superintelligence” after he changed Meta’s direction toward the metaverse. The company has made a significant bet on advanced AI development to stay competitive against OpenAI and Google through this latest strategic move.
