Scale AI announces major new investment from Meta, valuing the company at over $29 billion

Artificial intelligence startup Scale AI announced on June 13th that it has received a significant new investment from Meta Platforms, valuing the company at over $29 billion. The deal will also significantly expand Scale and Meta's commercial partnership to accelerate Scale's deployment of data solutions.Scale founder Tao Wang will join Meta to head up AI efforts while continuing to serve as a director of Scale.Scale's board of directors has appointed Chief Strategy Officer Jason Droege to serve as the company's interim CEO.(Interfax)