 "Zuckerberg's $14 bn AI hire Alexandr Wang makes Forbes 40 Under 40 list")
Meta CEO Mark Zuckerberg has made a major move to strengthen the company’s artificial intelligence (AI) ambitions. He has appointed 28-year-old Alexandr Wang to head Meta’s newly created AI unit, called Meta Superintelligence Labs. The decision follows Meta’s nearly $14 billion investment in Wang’s data-focused AI firm, Scale AI.
Wang’s growing influence in the sector is also reflected in his recent inclusion on Forbes’ 40 Under 40: The Richest Self-Made Billionaires list, the Financial Express reported.
Early life and education
Alexandr Wang was born in the United States (US) to parents who worked as physicists. Growing up in a science-driven environment, he developed a strong interest in mathematics and computer science at an early age. His academic abilities led him to the Massachusetts Institute of Technology (MIT). However, Wang chose an unconventional path. He dropped out of MIT before completing his degree to focus on building a company.
At just 19, Wang co-founded Scale AI, a company that helps improve AI systems by supplying clean, accurate and well-labelled data. Since AI models depend heavily on high-quality data, Scale AI quickly found demand among major technology companies.
The firm expanded rapidly and became a key player in the AI ecosystem.
Leading Meta Superintelligence Labs
At Meta, Wang has been tasked with reorganising and strengthening the company’s AI operations. He has brought multiple AI teams together under a single structure to improve coordination and speed up innovation.
Meta Superintelligence Labs focuses on AI research, product development and core infrastructure. The aim is to build more advanced systems that can reason, learn and solve problems more effectively.
Meta plans $25 billion bond sale to boost AI push
Meta Platforms Inc is preparing to raise at least $25 billion through the sale of investment-grade bonds, the company announced in October. According to Bloomberg, this is likely to be one of the largest corporate bond offerings in the US in 2025.
The proposed bond sale comes soon after a major financing deal earlier this month. Meta had raised $27 billion through a private bond transaction to fund a large data centre project in Louisiana, US. The project is 80 per cent owned by Blue Owl Capital Inc. A large part of the debt from that deal was initially bought by Pacific Investment Management Co (PIMCO).
Meta’s bond issue is part of a wider trend among large technology companies that are spending heavily on data centres and computing power. Morgan Stanley estimates that hyperscalers -- including Meta, Microsoft and Alphabet -- will invest around $3 trillion in data centres between now and the end of 2028.
About half of this spending is expected to come from the companies’ own cash, while the remaining amount will likely be raised through loans and bond markets, Bloomberg reported.
Falling borrowing costs are making it easier for tech firms to raise large sums. With the US Federal Reserve cutting interest rates, companies like Meta are finding it cheaper to issue debt.