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.

Alexandr Wang dropped out of MIT to co-found Scale and was quickly lauded as one of Silicon Valley's most promising entrepreneurs, raising funding from blue-chip venture capital firms and achieving billionaire status in his 20s.

Data-labeling firm Scale AI confirmed on Friday that it has received a "significant" investment from Meta that values the startup at $29 billion.

Meta invests $14.3B in Scale AI to fuel a new superintelligence lab—gaining infrastructure and leadership, but raising doubts about Scale’s future.

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 an investment in artificial intelligence company Scale and recruiting Chief Executive Alexandr Wang to join a team developing “superintelligence” at the tech giant.

Meta Platforms Inc. Chief Executive Mark Zuckerberg’s effort to scale up the company’s artificial-intelligence ambitions took their latest step forward with an investment in ScaleAI and the poaching of the the data-labeling AI startup’s founder.

Google is planning to end its business relationship with Scale AI after its rival, Meta Platforms Inc (NASDAQ: META), acquired a 49% stake in the AI data-labeling startup.