Meta Finalizes $14.3 Billion Investment in Scale AI, Hires CEO Alexandr Wang

According to insider sources, Meta has closed a $14.3 billion deal to acquire a 49% stake in data-labeling firm Scale AI, valuing the company at $29 billion.

As part of the agreement, Scale’s 28-year-old co-founder and CEO Alexandr Wang will join Meta to lead pivotal AI initiatives. The move is seen as a bold play by CEO Mark Zuckerberg to bring in a commercially savvy AI leader, mirroring the approach of OpenAI’s Sam Altman.

Scale AI’s Chief Strategy Officer, Jason Droege, will step in as interim CEO. Neither Meta nor Scale disclosed further financial specifics.

This marks Meta’s second-largest acquisition after its $19 billion purchase of WhatsApp. The deal could also yield strategic advantages, as Scale provides critical data-labeling services to major AI labs, including Meta’s competitors.

Founded in 2016, Scale AI has emerged as a key player in training AI systems, serving clients across autonomous vehicles and generative AI. The company operates platforms like Remotasks and Outlier, managing a global workforce of data annotators.