Meta is making an investment in artificial intelligence company Scale and recruiting its CEO Alexandr Wang to join a team developing "superintelligence" at the tech giant.

Meta is making its first major minority investment in an outside company as it tries to catch up to a growing field of artificial intelligence rivals.

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

Alexandr Wang dropped out of MIT to co-found Scale and was quickly lauded as one of Silicon Valley's most promising entrepreneurs, raising funding from blue-chip venture capital firms and achieving billionaire status in his 20s.

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

AI Startup Scale AI CEO Alexander Wang not only founded the most ambitious AI startup, he has built a reputation as a leader who understands AI’s technical complexities. He is also known as a person who knows how to build a business.

Meta is investing $14.3 billion in Scale AI, acquiring a 49% stake, and valuing the company at $29 billion. Scale AI's co-founder, Alexandr Wang, will join Meta to lead its superintelligence unit, marking a significant shift in Meta's AI strategy.