.jpeg "CEO Alexandr Wang") |
| Scale AI CEO, Mr Alexandr Wang |
The parent company of Facebook, Instagram, and WhatsApp, Meta is reportedly in talk to carry out a multi-billion dollar investment in Scale AI. Scale AI is a technology company that provides high-quality training data for artificial intelligence systems.
The AI startup offers services like data annotation, labeling, and dataset management to help businesses and developers build and improve AI models efficiently. The company has worked with OpenAI and Microsoft to help them build and train their artificial intelligence (AI) models.
The company also helped Meta to built and developed Defense Llama, a large language model designed for military uses and applications. The AI model is backed by Meta’s Llama 3 framework. Meta has also invested in the company in the past. But that'll be discussed as you continue to read.
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However, many of the Scale AI's data labeling works are carried out and completed by contractors. This made the Department of Labor to launch an investigation into the company. The DOL recently concluded its probe into allegations that the company was misclassifying workers and paying them inadequately.
The Meta's potential investment in this startup is said to exceed $10 billion dollars. If it does, the deal will position it as Meta Platforms' most significant external AI investment to date and one of the largest funding rounds for a private company in history.
This is not the first time Meta is investing in Scale AI. The social media company had previously participated in Scale AI’s $1 billion Series F funding round, which gave the AI company a valuation of $13.8 billion. The company generated $870 million in revenue last year and projects to earn $2 billion this year.
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