Meta Platforms Inc. has finalized a multibillion-dollar investment in Scale AI and recruited the startup’s chief executive officer to join its artificial intelligence efforts — an unusual deal that signals a heightened push by the social media giant to catch up on AI development.

Google, Scale AI's biggest client, intends to shift its $200 million workload for human-labeled training data to rival companies following the Meta deal.

Meta has taken a minority stake in Scale AI at a $29 billion valuation, appointing former Uber Eats chief Jason Droege as interim CEO as founder Alexandr Wang joins Meta's internal AI team.

If Meta Platforms (META) invests in Scale AI, it could boost the Mark Zuckerberg-led company's exposure to artificial intelligence and provide a “positive catalyst” for the stock. Read for more.