Data-labeling firm Scale AI confirmed on Friday that it has received a "significant" investment from Meta that values the startup at $29 billion.

Meta is making a $14.3 billion investment in artificial intelligence company Scale and recruiting its CEO Alexandr Wang to join a team developing “superintelligence” at the tech giant.

Alexandr Wang dropped out of MIT to co-found Scale and was quickly lauded as one of Silicon Valley's most promising entrepreneurs, raising funding from blue-chip venture capital firms and achieving billionaire status in his 20s.

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Disney and Universal are teaming up to sue AI company Midjourney in a lawsuit that calls its AI generation tools a "bottomless pit of plagiarism," as reported by Reuters. Midjourney's tools pull from existing material to gain information used to create new (sometimes strikingly similar) images and other media.

Walt Disney and Universal Studios have filed a federal copyright lawsuit against artificial intelligence image generator Midjourney, marking the first major legal action by Hollywood studios against an AI company.