Scale AI states: “Scale AI announced a significant new investment from Meta Platforms (META) that values Scale at over $29 billion. The agreement will also substantially expand Scale and Meta’s commercial relationship to accelerate deployment of Scale’s data solutions. In addition, Scale’s founder, Alexandr Wang, is joining Meta to work on Meta’s AI efforts. Wang will continue to serve as a director on the Scale Board of Directors and support Scale’s ongoing work to unlock the power of AI and keep human values at the forefront. Scale will utilize the proceeds of the deal to accelerate innovation and strengthen strategic partnerships with customers. In addition, Scale will distribute proceeds from Meta’s investment to Scale shareholders and vested equity holders, providing them with substantial liquidity as well as the opportunity to continue participating in Scale’s success as ongoing equity holders of the Company. Following its investment, Meta will hold a minority of Scale’s outstanding equity.”

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