Meta Platforms Inc. has announced the formation of a new unit called Superintelligence Labs, aimed at enhancing its artificial intelligence (AI) capabilities. This week, the company’s stock price shot up to an all-time high of $747.90 during midday trading. This milestone represents an all-time high, eclipsing the previous record of 36,000, which was reached in February.
And it’s Meta CEO Mark Zuckerberg who’s leading the charge on this long-term, ambitious project. About Alexandr Wang and Nat Friedman Alexandr Wang will be the founding CEO of Superintelligence Labs. Both are well-respected giants in the AI space. This strategic acquisition complements Meta’s long-term investment in the development of its foundation models as well as AI in general. It unequivocally cements the company’s status as a juggernaut of the new economic order.
In February, Meta made headlines when it announced a plan to lay off 5% of its workforce as part of a broader restructuring effort. Even in the wake of these layoffs, the company has recently started a new AI-centered hiring spree. Recently, Meta hired Wang and several colleagues from his previous ventures as part of a staggering $14.3 billion investment in AI technologies.
Andrew Bosworth, a key executive at Meta, commented on the current hiring climate within the tech sector, stating that it is “really incredible and kind of unprecedented in my 20-year career as a technology executive.” That sentiment is indicative of the urgency and quite frankly, competitive nature of the current AI talent acquisition race.
As part of its efforts to attract top-tier talent, Meta has reportedly offered signing bonuses as high as $100 million. The company thus far has brought on smart, industry-savvy veterans such as Friedman. He founded the startup Safe Superintelligence, which has been recently valued at a whopping $32 billion. These strategic hires are likely to accelerate Meta’s progress in developing groundbreaking AI solutions that we’re all waiting for.
The creation of Superintelligence Labs is a key signal of Meta’s desire to get out ahead on generative AI. With Wang and Friedman at the helm, the lab aims to advance the company’s research and implementation of AI technologies that could redefine user experiences across its platforms.