Meta is discussing a multi-billion greenback funding in Scale AI, according to Bloomberg. In actual fact, the deal worth might reportedly exceed $10 billion, making it the most important exterior AI funding for the Fb father or mother firm and one of many largest funding occasions ever for a non-public firm.
Scale AI (whose CEO Alexandr Wang is pictured above) gives knowledge labeling companies to corporations corresponding to Microsoft and OpenAI to assist them prepare their AI fashions. A lot of that labeling work is completed by contractors — actually, the Division of Labor not too long ago dropped its investigation into whether or not the corporate was misclassifying and underpaying workers.
In line with Bloomberg, the corporate noticed $870 million in income final yr and expects to herald $2 billion this yr.
Meta was already an investor in Scale AI’s $1 billion Collection F, which valued the corporate at $13.8 billion. Scale AI additionally constructed Defense Llama, a big language mannequin designed for army use, on prime of Meta’s Llama 3.