Previously, we mentioned Meta looking to invest in the Scale AI firm. Today, Meta has finally confirmed that it has invested $14.3 billion (~RM 60.4 billion) in Scale AI to hold a 49% stake in the company, according to Bloomberg.
A new direction for Meta?
For your information, Scale AI CEO Alexandr Wang is moving to Meta to lead the Superintelligence team that Mark Zuckerberg himself founded.
This is to ensure that Meta will be the first company to offer artificial general intelligence (AGI) and dominate the increasingly competitive AI world over the past three years. Scale AI Chief Strategy Officer Jason Droeg has now been promoted to CEO to replace Wang, according to a CNBC report.
Issues surrounding the AI behemoth's model not meeting Meta's set targets this year were the catalyst for Meta's purchase of Scale AI. As Meta had done before, Zuckerberg continued his practice of acquiring better products from other companies, such as WhatsApp and Instagram.
Metaverse is still alive
Although the company now uses the name Meta, the world of the metaverse has not left Zuckerberg's lips for a long time. Instead, the company's focus is now on AI and AI-powered smart glasses. In fact, through a partnership with Anduril last week, they are now also entering the arena of military technology.
Throughout 2023, Scale AI generated $800 million in revenue and is expected to generate $2 billion this year. The next golden pot at the end of the rainbow is AGI, and Zuckerberg is refusing to let this opportunity pass him by.
Even though Facebook was previously left starving by feeding Meta Horizon Worlds, resulting in losses of tens of billions.
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