Meta is making an investment in artificial intelligence company Scale and recruiting Chief Executive Alexandr Wang to join a team developing “superintelligence” at the tech giant.

Scale said late on Thursday that the deal values it at $29 billion and its CEO Alexandr Wang will join Meta to play a prominent role in the Facebook owner's AI strategy.

The parent company of Facebook is investing $14.3 billion in Scale AI, which offers a platform and training data for developing AI models.

Technology Technology The Big Story  Meta invests in Scale AI, taps CEO for ‘superintelligence’ push Meta, the parent company of Facebook and Instagram, is investing a

Alexandr Wang dropped out of MIT to co-found Scale and was quickly lauded as one of Silicon Valley's most promising entrepreneurs, raising funding from blue-chip venture capital firms and achieving billionaire status in his 20s.

Scale AI did not disclose the investment size, but a Wall Street Journal report said earlier this week that Meta could be eyeing a 49% stake, valued at around $14 billion.