Meta completes $22b Scale AI deal, hires CEO Alexandr Wang
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The news: Meta has finalised its near USD15 billion purchase of a 49% stake in Scale AI and recruited its founder and CEO Alexandr Wang into the social media giant's ‘superintelligence’ unit leading AI development.
The context: Sources told Bloomberg that Facebook parent Meta has bought non-voting shares in the data labelling and AI model evaluation services company for USD14.3 billion.
The deal will also accelerate the deployment of Scale’s solutions at Meta. Although Wang is joining Meta, he will remain on Scale's board of directors.
Scale’s chief strategy officer Jason Droege, who joined in September 2024, will serve as interim chief executive. During Droege’s time as a vice president at Uber between 2014 and 2020 he founded and grew the Uber Eats business.
What they said: “Meta’s new investment and our broadened commercial agreement is a testament to the incredible work and dedication of the entire Scale team, and the tremendous upside that lies ahead for Scale,” Droege said in a blog post.
Wang said he is “delighted that Jason will lead the next steps in Scale's journey and bring his experience and skill to continue its success”.
The sources: Scale AI blog, Bloomberg, Reuters
