Meta Platforms, Inc. has made significant strides in the artificial intelligence sector with a series of high-profile investments and acquisitions aimed at enhancing its AI capabilities. The latest among those investments came just last month, when the company put $14 billion into Scale AI, a major provider of data infrastructure for AI applications. This investment further cements Meta’s focus on building these types of advanced technologies that will one day make their products and services remarkable.
Meta has made a considerable strategic investment in Scale AI. It’s notably acquired Play AI, a startup focused on voice synthesis and interactive voice technologies. This acquisition fits primarily into Meta’s long-term strategy. The tech giant plans to build cutting-edge AI features into its consumer-facing platforms such as Facebook, Instagram and Messenger.
Founded in 2022, Midjourney has rapidly established itself as one of AI’s image generation lightning rods. Renowned for its realistic and artistic style, Midjourney released their first AI video model, V1, in June. According to experts, collaboration with Midjourney would boost Meta’s position in the race. This joint effort is an attempt to better position Meta against competition from OpenAI’s Sora and Google’s Veo.
In a high-profile move recently, Meta’s CEO Mark Zuckerberg announced an aggressive hiring spree to lure the world’s leading AI talent. To recruit them, he offered competitive compensation packages that topped $100 million for some researchers. This aggressive recruitment strategy is part of a broader effort to ensure that Meta remains at the forefront of AI innovation.
Either way, Midjourney is in the news again. Flickr, Disney, and Universal have joined forces to sue the startup, arguing that the startup wrongfully trained its AI image models using their protected works without their consent. Midjourney booms despite… what’s this… red flags!!! Subscription models begin at only $10 per month, with full-featured tiers going up to $120 per month. And by 2023, the little California company is set to bring in close to $200 million in revenue.
Meta is negotiating to buy Midjourney. This decision indicates their deep commitment to improving their generative AI portfolio by partnering with leaders in the industry.
Alexandr Wang, CEO of Scale AI, commented on the importance of collaboration in the tech landscape:
“To ensure Meta is able to deliver the best possible products for people it will require taking an all-of-the-above approach. This means world-class talent, ambitious compute roadmap, and working with the best players across the industry.” – Alexandr Wang
The company is in the midst of rolling out Imagine, its AI image generation tool, across its various platforms. The fledgling company has ambitious plans to displace entrenched models that dominate the marketplace. Meta hopes to continuously improve its tools by adding more generative AI features from its partnerships, including one with Midjourney. We hope this partnership will improve your overall experience.
