Mark Zuckerberg is betting more than $14bn that a well-connected 28-year-old is the catalyst his company needs to catch up with rivals racing to develop and commercialise artificial intelligence.
The Meta chief struck a deal last week to buy 49 per cent of data labelling business Scale AI and hire its leader Alexandr Wang. Zuckerberg paid $14.3bn, marginally ahead of Scale’s last valuation. But ownership of the start-up is “basically incidental”, according to one Scale investor. The real prize was Wang.
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