Reports from Bloomberg suggest that Meta is currently in talks for a significant investment in Scale AI, potentially surpassing $10 billion. If finalized, this deal would mark one of the largest AI investments by Meta’s parent company and a milestone funding event for Scale AI.
Scale AI, led by CEO Alexandr Wang, specializes in providing data labeling services to tech giants like Microsoft and OpenAI for AI model training. The company largely relies on contractors for labeling tasks, and recent investigations into employee misclassification and underpayment have been resolved by the Department of Labor.
Recent financial reports indicate that Scale AI generated $870 million in revenue last year, with projections to reach $2 billion in the current fiscal year.
Meta’s involvement in Scale AI dates back to their investment in the company’s $1 billion Series F funding round, valuing Scale AI at $13.8 billion. Additionally, Scale AI has leveraged Meta’s Llama 3 technology to develop Defense Llama, a robust language model tailored for military applications.
