Meta is making its first major minority investment in an outside company as it tries to catch up to a growing field of artificial intelligence rivals.

The planned deal is part of a broader revamp of Meta’s AI leadership after its struggles to build the technology.

Meta is investing heavily in Scale AI, valuing the startup at over $29 billion, to accelerate its AI ambitions. This move brings Scale AI's 28-year-old CEO, Alexandr Wang, to the forefront of Meta's new research lab focused on creating artificial superintelligence.