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Scale AI confirms ‘significant’ investment from Meta, says CEO Alexanr Wang is leaving
- Scale AI receives a significant investment from Meta valuing the startup at $29 billion.
- Co-founder and CEO Alexandr Wang is stepping down to join Meta for AI work.
- Meta invested approximately $14.3 billion for a 49% stake in Scale AI.
- The investment from Meta will be used to pay investors and shareholders and fuel growth.
- Jason Droege will serve as interim CEO of Scale AI.
- Wang will remain on Scale AI's board as a director.
- Scale AI and its competitors have been hiring skilled personnel to generate high-quality data for AI labs.
- Last year, Scale AI raised $1 billion from investors including Amazon and Meta.
- Meta has confirmed the strategic partnership and investment in Scale AI.
- Meta aims to work on superintelligence efforts with Wang's expertise.
- Meta has been facing competition in AI from Google, OpenAI, and Anthropic.
- Meta lost 4.3% of its top talent to other AI labs last year.
- Scale AI is known for producing and labeling data used to train AI models.
- Scale AI remains an independent entity despite the investment from Meta.
- Scale AI and competitors have been crucial for generating data for leading AI labs like OpenAI.
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