Meta is reportedly making a $15 billion bet on AGI
1 min read
Summary
Meta is in the process of finalising a deal for an almost $15bn investment in artificial intelligence (AI) company Scale AI, which would give it a 49% stake in the company.
CEO Mark Zuckerberg intends to assemble a team of 50 people to focus on Meta’s AI goals and Scale AI CEO Alexandr Wang will join the group once the deal is complete.
The investment will help Meta to keep up with competitors, such as Open AI, Anthropic, Google and Microsoft, all of which are also focused on developing AGI (artificial general intelligence).
Scale AI provides training data for many of the world’s biggest tech companies and recently signed deals worth millions of dollars with the US Department of Defense and Qatar.