Meta Platforms (Facebook) Stock News

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Meta is reportedly in talks to hire artificial intelligence (AI) investors Nat Friedman and Daniel Gross and partially buy out their venture capital fund, NFDG. [contact-form-7] The company aims to have Friedman and Gross help lead its AI efforts, The Information reported Wednesday (June 18), citing unnamed sources.

Meta Platforms is in talks to hire former GitHub CEO Nat Friedman to join the Facebook parent's AI efforts, The Information reported on Wednesday, citing a person familiar with the matter.

Just hours after Meta's deal, Google paused multiple Scale AI projects. OpenAI and xAI are pausing projects, too, and one investor said they are selling their stake.

Meta Platforms is an incredibly strong company, sporting robust margins, multiple avenues for growth, and a portfolio of incredible digital properties. The WhatsApp development only strengthens our investment thesis, as billions more users getting monetized should materially impact the bottom line in the short, medium, and long-term. Trading at an entirely reasonable price point, we're re-itera...

OpenAI is phasing out its work with Scale AI and cutting ties with the data provider following Meta's deal with the startup, an OpenAI spokesperson told Bloomberg on Wednesday.

Scale AI's Interim CEO Jason Droege said the AI startup is not pivoting or winding down following Meta's multibillion-dollar investment. Meta has a 49% stake in Scale AI after investing $14.3 billion into the startup, a deal that included the departure of Scale AI founder Alexandr Wang for the social media company.

OpenAI has been winding down its work with Scale AI over the last year, according to a spokesperson. Meta is investing $14.3 billion into Scale AI and will have a 49% stake in the startup, which helps tech companies prepare data they use to train cutting-edge AI models.