AsianFin -- Scale AI confirmed Friday that Meta has made a “significant” investment in the data-labeling startup, valuing the company at $29 billion. As part of the deal, Scale co-founder and CEO Alexandr Wang will step down and join Meta to support its AI development efforts.

Reports indicate Meta acquired a 49% stake in the San Francisco–based firm for approximately $14.3 billion. Scale AI specializes in producing and labeling the high-quality datasets essential for training large language models, a foundational element of generative AI systems.