Trump/Putin summit, UnitedHealth and Japan’s GDP - what’s moving markets
Investing.com-- Meta Platforms is in advanced talks to partially buy out an artificial intelligence venture fund run by investors Nat Friedman and Daniel Gross for over $1 billion, The Information reported on Wednesday.
The deal will also see Meta (NASDAQ:META) hire the two, the report said, citing a personal familiar with the matter. Friedman is the former CEO of coding database GitHub, while Gross is the co-founder of Safe Superintelligence.
The two run the investment fund NFDG, which holds stakes in several major AI and technology startups, including Stripe, Character AI, and Perplexity.
The Information report comes as Meta attempts to further bolster its AI staff, with the company having last week announced a $14.8 billion investment in Scale AI, while also hiring founder Alexandr Wang.
Other reports showed Meta was also seeking to poach employees from OpenAI, as the company races to gain an edge over its rivals in the fast-growing AI industry.
CEO Mark Zuckerberg was seen personally assembling a team aimed at creating artificial general intelligence, a theoretical but widely sought-after form of AI that has cognitive and reasoning capabilities on par with humans.