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Knowledge-labeling firm Scale AI confirmed on Friday that it has obtained a βvitalβ funding from Meta that values the startup at $29 billion. The startup additionally mentioned its co-founder and CEO Alexandr Wang is stepping down from his position to affix Meta and assist the larger firm with its AI work.
Stories point out that Meta invested about $14.3 billion for a 49% stake within the startup, which produces and labels information thatβs used to coach the massive language fashions that underpin a good portion of generative AI growth.
Meta confirmed the funding. βMeta has finalized our strategic partnership and funding in Scale AI. As a part of this, we’ll deepen the work we do collectively producing information for AI fashions and Alexandr Wang will be part of Meta to work on our superintelligence efforts. We are going to share extra about this effort and the good individuals becoming a member of this staff within the coming weeks,β a spokesperson for Meta advised Trendster.
Jason Droege, Scaleβs present chief technique officer, will hop in as interim CEO. Scale AI famous that Metaβs funding shall be used to pay traders and shareholders, in addition to to gasoline development. The corporate emphasised that it stays an unbiased entity. Wang will proceed on the data-labeling agency as a director on its board.
As my colleague Max Zeff wrote on Wednesday, this funding is a approach for Meta to enhance its AI efforts as its rivals Google, OpenAI and Anthropic rush forward, and the social media firmβs personal AI mannequin releases path the competitors. Plus, in keeping with information by SingalFire, the corporate misplaced 4.3% of its high expertise to different AI labs final 12 months.
For the final a number of years, main AI labs equivalent to OpenAI have relied on Scale AI to provide and label information thatβs used to coach fashions. In latest months, Scale AI and its information annotation rivals have began hiring extremely expert individuals, equivalent to PhD scientists and senior software program engineers, to generate high-quality information for frontier AI labs.
Simply final 12 months, Scale AI raised $1 billion final 12 months from traders together with Amazon and Meta at a valuation of $13.8 billion.
