Cory Weinberg

1 week ago | theinformation.com | Cory Weinberg

For years, data labeling existed in a tucked-away corner of Silicon Valley, a critical but unglamorous area of AI where companies like Google and OpenAI hire outside firms to improve their models by laboriously grading the quality of what they produce. Now, a spotlight has unexpectedly fallen onto the field in the wake of Meta Platforms’ decision to pay $14.3 billion for 49% of Scale AI, the best-known data-labeling firm. But it’s not the largest such firm. Nor perhaps the most impressive.

1 week ago | theinformation.com | Cory Weinberg

Meta Platforms is in advanced talks to hire the prominent artificial intelligence investors Nat Friedman and Daniel Gross to help lead its AI efforts, according to a person familiar with the discussions. As part of those talks, Meta is in discussions about partially buying out Friedman and Gross’ venture capital fund, NFDG, which holds stakes in top AI startups and is worth billions of dollars on paper, the person said.

1 week ago | theinformation.com | Cory Weinberg

Liquid Death has been looking to raise up to $20 million in fresh cash, as the longtime initial public offering hopeful looks to expand its production capacity and keep its drink lineup stocked in stores. The canned water and tea startup has been pitching the fundraise in the form of a convertible note, according to materials sent to prospective investors. The company expects to generate about $340 million in revenue this year, up about 40% from the $240 million in revenue it brought in last year.

1 week ago | theinformation.com | Cory Weinberg

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. Zuckerberg wanted Wang to join Meta and was willing to pay billions of dollars to make that happen. Zuckerberg floated a $5 billion investment in Scale in early May, and Wang later countered with $20 billion, according to deal documents and a person familiar with the discussions.

2 weeks ago | theinformation.com | Cory Weinberg

Source: The InformationMeta Platforms on Thursday finalized a deal to invest $14.3 billion in Scale AI, according to a Scale spokesperson. Through the deal, Meta will acquire a 49% stake in the data labeling startup. Scale said in a statement that the investment round will value the company at $29 billion, including the money invested.