Data-labeling firm Scale AI confirmed on Friday that it has received a "significant" investment from Meta that values the startup at $29 billion.

Wang will remain involved with Scale AI as a board member and is expected to bring several employees with him to Meta. He has led the company since co-founding it in 2016 to supply high-quality labeled data—sourced through human contractors—for training A.I. systems.

Alexandr Wang, once the youngest self-made billionaire in the world, has agreed to join Meta to work on AI “superintelligence,” leaving the startup that made him rich after dropping out of MIT. Alexandr Wang’s Scale AI just inked a $14.