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In a move that underscores the escalating competition in the artificial intelligence arena, Meta has finalized a significant acquisition, shelling out nearly $15 billion. This deal marks one of the largest in the company’s history, signaling its aggressive push into the burgeoning AI space.
The target of this substantial investment: Scale AI, a promising AI startup founded by the exceptionally talented Alexander Wang.
Sources indicate that Meta will secure a 49% non-voting stake in Scale AI. As a pivotal element of the transaction, Alexander Wang is set to join Meta, potentially leading Meta’s efforts in advanced AI research and development.
Born in 1997 in New Mexico, Wang, a descendant of Chinese immigrants, has demonstrated an exceptional aptitude for technology from a young age.
During his high school years, Wang was already receiving job offers from top tech companies.
He attended MIT in 2015, where he excelled academically, achieving a perfect GPA of 5.0 in his first year taking graduate-level computer science courses.
In 2016, at the age of 19, Wang made the bold move of dropping out of MIT to launch Scale AI. His vision quickly attracted significant investment from industry giants.
By age 24, Wang achieved the status of one of the youngest self-made billionaires globally, a testament to his entrepreneurial acumen.
Scale AI specializes in data annotation, a critical service for training sophisticated AI models. The company currently counts among its clients some of the biggest names in tech, including Google, Microsoft, and OpenAI.
Having been valued at $14 billion earlier this year, recent investment from Meta has propelled Scale AI’s valuation to an estimated $29 billion, highlighting the substantial value of the company and the strategic importance of its data annotation services in the evolving AI landscape.
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