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.

Data-labeling firm Scale AI confirmed on Friday that it has received a "significant" investment from Meta that values the startup at $29 billion.

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.

Meta is making an investment in artificial intelligence company Scale and recruiting Chief Executive Alexandr Wang to join a team developing “superintelligence” at the tech giant.

Meta invests $14.3B in Scale AI to fuel a new superintelligence lab—gaining infrastructure and leadership, but raising doubts about Scale’s future.

More on Meta's plans for Scale AI as Hollywood drops the hammer on AI companies that generate its characters. XR goes mainstream with new AR Glasses from Google and Snap.

Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.

Scale AI plans to promote Chief Strategy Officer Jason Droege to serve as its next chief executive officer following a multibillion-dollar investment from Meta Platforms Inc., according to two people familiar with the matter.

Google has decided to end its partnership with Scfale AI after Meta acquired 49% stake in the company and its CEO, Alexander Wang joined Meta, as concern for data security grows.