Over the past few months, Meta has seemingly doubled down on its efforts on the generative AI front, including investing $14.3 billion into Scale AI and hiring CEO Alexandr Wang to lead its new superintelligence lab.
In June, OpenAI CEO Sam Altman claimed that Meta was poaching the firm's staffers with incredible signing bonuses of up to $100 million. The company's new AI division predominantly consists of former staff members from OpenAI and Anthropic.
But as it seems, the Facebook maker is having a hard time keeping its relatively new employees. A recent report revealed that several members of the team have left the company, barely a month after joining, and despite the great signing bonus deals.
However, a memo from the company seemingly dismissed these claims, further revealing that the new AI division was going through a restructuring and hiring freeze.
Despite the hurdles of chasing the ever-elusive AI bubble, Meta CEO Mark Zuckerberg has affirmed his commitment. While in a recent episode of the Access podcast, the executive admitted that the AI bubble is "quite possible," highlighting companies that have overbuilt, collapsed, and left valuable assets behind (via Business Insider).
However, these setbacks won't deter the executive from investing in the category. Zuckerberg claims the bigger risk is hesitating.
If we end up misspending a couple of hundred billion dollars, I think that that is going to be very unfortunate, obviously. But what I'd say is I actually think the risk is higher on the other side.
Meta CEO, Mark Zuckerberg
Amid rising safety and privacy concerns, the executive says that Meta will be "out of position" on the most important technology if the company builds too slowly and another company beats it to the punch by delivering artificial superintelligence first.
While the trajectory of AI development is seemingly unclear, Mark Zuckerberg says that failure of the entire enterprise won't be too aggressive on Meta. "We're not at risk of going out of business," he added.
Compared to top AI labs like OpenAI and Anthropic that depend on investor funding to foster their AI advances, Meta's operations aren't determined by investor funding or the performance and trajectory of AI. This is because the company runs separate business ventures, including selling ads on Facebook.
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