Scale AI, a key data-labeling firm powering the development of large language models, confirmed a major investment from Meta on Friday that values the startup at $29 billion. As part of the deal, Scale CEO and co-founder Alexandr Wang will step down and join Meta to support its AI and “superintelligence” initiatives.

Meta invested approximately $14.3 billion for a 49% stake in Scale AI, according to reports. The company, which specializes in producing and annotating the vast datasets used to train generative AI models, will remain an independent entity.

“Meta has finalized our strategic partnership and investment in Scale AI … Alexandr Wang will join Meta to work on our superintelligence efforts,” a Meta spokesperson confirmed to TechCrunch.

Wang will stay on Scale’s board, while current Chief Strategy Officer Jason Droege steps in as interim CEO. Scale said Meta’s investment will be used to return capital to investors and shareholders, and to fund future growth.