Meta is making a $14.3 billion investment in artificial intelligence company Scale and recruiting its CEO Alexandr Wang to join a team developing “superintelligence” at the tech giant.

Meta is making its first major minority investment in an outside company as it tries to catch up to a growing field of artificial intelligence rivals.

META Platforms stock (NASDAQ: META) has witnessed a substantial increase, spurred by investor enthusiasm over rising user interaction and consistently robust quarterly earnings. So far this year, Meta has gained 16%, significantly outperforming the wider NASDAQ index, which has increased by 2%.

Alexandr Wang cofounded Scale AI. He's about to become a very expensive hire at Meta.

Mark Zuckerberg has reorganized his company’s ambitions around a hypothetical future that is suddenly the talk of Silicon Valley.

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.

Meta's new AI tool, Devmate, is powered by models from rivals including Anthropic's Claude. It reflects how the company uses competitor AI models.