Scale AI CEO leaving
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Data-labeling firm Scale AI confirmed on Friday that it has received a "significant" investment from Meta that values the startup at $29 billion.
Scale AI's biggest customer Google plans to part ways with Scale after news broke that Meta is taking a 49% stake in the startup.
Meta is making its first major minority investment in an outside company as it tries to catch up to a growing field of artificial intelligence rivals.
Google has decided to end its partnership with Scfale AI after Meta acquired 49% stake in the company and its CEO, Alexander Wang joined Meta, as concern for data security grows.
Meta Platform Chief Executive Mark Zuckerberg’s efforts to shape up the company’s artificial-intelligence ambitions took a step forward with an investment in ScaleAI and the poaching of its founder.
With Scale AI founder and CEO Alexandr Wang headed to Meta for high-profile role in artificial intelligence, the startup is promoting its strategy head.