Meta Platforms Inc. (NASDAQ:META) is one of the 10 best tech stocks to buy according to billionaires right now. On June 8, Meta is in discussions to invest over $10 billion in Scale AI, citing unnamed sources.
Scale AI is a fast-growing startup specializing in data infrastructure for artificial intelligence. Scale AI supports the development of large language models through advanced data labelling services and is already working with Meta on “Defense Llama,” a version of Meta’s open-source Llama model designed for government and defense applications. The company also serves major players like Microsoft and OpenAI, and is reportedly on track to more than double its revenue to $2 billion this year (up from $870 million last year).
The potential investment, for which terms are still being finalized, would represent Meta’s largest external AI commitment to date. Unlike peers such as Microsoft and Amazon, Meta has largely focused on internal AI development.
A significant investment in Scale would mark a shift for Meta, signaling a broader strategy to accelerate AI capabilities through targeted partnerships. With CEO Mark Zuckerberg committing up to $65 billion in AI investment this year, this potential deal reflects Meta’s increasing urgency to expand its AI footprint beyond its core platforms.
Meta Platforms Inc. (NASDAQ:META) focuses on providing social media platforms and virtual reality services. The company operates platforms such as Facebook, Instagram, WhatsApp, Messenger, and Threads, and also sells wearables like Oculus headsets, aiming to connect people and build communities through its services. It generates nearly all its revenue from selling advertising placements on its family of apps (FoA) to marketers.
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