Core Insights - Scale AI has secured a significant investment from Meta Platforms, raising its valuation to $29 billion, reflecting strong market recognition [1][2] - The investment allows Meta to acquire approximately 49% of Scale AI's equity for $14.3 billion, marking Meta's second-largest transaction in history [2] Company Overview - Scale AI, founded in 2016, specializes in data annotation and model evaluation services for generative AI companies, large enterprises, and government agencies [1] - The company’s valuation doubled from $13.8 billion to $29 billion within a year, indicating heightened market confidence [1] Leadership Changes - Alexandr Wang, the 28-year-old co-founder and CEO of Scale AI, will resign from his position to join Meta and lead its AI strategic initiatives [2] - Jason Droege has been appointed as the interim CEO of Scale AI while Wang will remain on the board to assist with ongoing projects [2] Future Plans - Scale AI intends to utilize the new funding to accelerate technological innovation and deepen strategic collaborations with clients [2] - The company plans to return profits to existing shareholders as part of its growth strategy [2]