Here’s what you need to know about the deal, what its implications may be, and why Wang is of such interest to Zuckerberg’s sprawling digital content company. Wang dropped out of MIT in his freshman year to co-found Scale with social media influencer and engineer Lucy Guo.

Meta Platforms Inc. keeps writing bigger checks in pursuit of its artificial intelligence strategy, and traders keep cheering it on, encouraged that the expensive bets will keep paying off.

The negotiations started as just one billionaire tech founder talking to another. Meta Platforms CEO Mark Zuckerberg approached Scale AI CEO Alexandr Wang in mid-April about a potentially industry-shaking deal.

Google is reportedly cutting ties with Scale AI after Meta acquired a 49% stake in the data-labeling startup, according to Benzinga. Google was previously Scale AI’s largest customer, and it is reportedly planning to end its relationship with the company.

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

Meta Platforms (NASDAQ:META) announced an updated image-to-video ad feature, which lets marketers use AI to turn product pictures into multi-scene video ads, Bloomberg News reported. The Facebook and Instagram parent noted that advertisers can upload up to 20 images to create the videos,

Social media giant Meta Platforms, Inc. (META) is reportedly considering plowing billions into artificial intelligence (AI) technology as the Mark Zuckerberg-led company strives to stay competitive in the red-hot space.

Meta Platforms is reportedly acquiring a 49% stake in Scale AI, a leading data labeling company that powers many AI applications, as CEO Mark Zuckerberg seeks to strengthen Meta’s position in the competitive artificial intelligence landscape.

Mark Zuckerberg reached out to our source directly Exclusive Meta has made lavish and lucrative offers to a select set of AI researchers in an effort to develop superintelligent AI.… CEO Mark Zuckerberg himself has taken to emailing job offers to elite talent.