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 its first major minority investment in an outside company as it tries to catch up to a growing field of artificial intelligence rivals.

Meta’s investment is the latest attempt by chief executive Mark Zuckerberg to give his $1.8 trillion social media company an edge in the race to develop more powerful AI models. Zuckerberg has been trying to poach top researchers and engineers from rival groups as he seeks to build out a new “superintelligence” team.