Tech giant Meta is investing more than $14 billion to acquire a 49% stake in artificial intelligence firm Scale AI, the San Francisco-based company's CEO confirmed on X.

Meta, the parent company of Facebook and Instagram, is investing a “significant” amount in Scale AI and hiring the artificial intelligence (AI) company’s young CEO Alexandr Wang. The investment, reportedly worth about $14 billion,

The negotiations started as just one billionaire tech founder talking to another. Meta Platforms CEO Mark Zuckerberg approached Scale AI CEO Alexandr Wang in mid-April about a potentially industry-shaking deal.

Meta has finalized its $14.3 billion investment in Scale AI. As part of the deal, Scale AI's founder and CEO Alexandr Wang will be joining Meta and will reportedly lead its new "Superintelligence lab.

Alexandr Wang, once the youngest self-made billionaire in the world, has agreed to join Meta to work on AI “superintelligence,” leaving the startup that made him rich after dropping out of MIT. Alexandr Wang’s Scale AI just inked a $14.