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.

While Meta had sought to hire “a lot of people” from OpenAI, “so far none of our best people have decided to take them up on that,” Sam Altman said.

Scale said late on Thursday that the deal values it at $29 billion and its CEO Alexandr Wang will join Meta to play a prominent role in the Facebook owner's AI strategy.

The investment by Meta for a 49 percent stake in Scale AI comes as the company is also developing what it calls “superintelligence.”

The parent company of Facebook is investing $14.3 billion in Scale AI, which offers a platform and training data for developing AI models.

Technology Technology The Big Story  Meta invests in Scale AI, taps CEO for ‘superintelligence’ push Meta, the parent company of Facebook and Instagram, is investing a

Meta is discussing a multi-billion dollar investment in Scale AI, according to Bloomberg. In fact, the deal value could reportedly exceed $10 billion, making it the largest external AI investment for the Facebook parent company and one of the largest funding events ever for a private company.

Meta is paying $14.3 billion to buy 49-percent of Scale AI and hire its CEO, Alexandr Wang, to reboot its troubled AI efforts.

Meta, the parent company of Facebook and Instagram, is investing a “significant” amount in Scale AI and hiring the artificial intelligence (AI) company’s young CEO Alexandr Wang. The ...

Scale AI co-founder Alexandr Wang is such an enthusiastic networker that his former roommate — OpenAI Chief Executive Officer Sam Altman — once jokingly told him to tone it down a bit.