Scale AI Stock Price, Valuation & IPO Outlook (2026)

Scale AI has no public stock price because it is a private company with no ticker. Its most recent valuation reference is Meta's June 2025 purchase of a 49% non-voting stake for about $14.3 billion, which implied a valuation of roughly $29 billion. Scale has not priced a new round or filed for an IPO since then, so any "Scale AI stock price" you see quoted is a private secondary indication, not a market price.

Scale AI is not listed on OpenStocks as of October 2026. This guide explains what the Meta deal means for valuation, how the business has changed since, and what an eventual IPO could look like.

As of October 2026: based on Meta and Scale AI announcements (June 2025), Scale CEO Jason Droege's January 2026 update, and SEC EDGAR searches showing no Scale AI registration statement.

Scale AI stock price: what exists and what doesn't

There is no exchange price for Scale AI. Three kinds of numbers circulate instead:

The Meta stake was non-voting, which matters. Meta paid for economics, not control, and Scale said it would remain independent. Because the transaction also involved Scale distributing proceeds to existing shareholders and employees, it acted as a large liquidity event as well as a price-setting one. For why secondary quotes for private companies diverge from round prices, see how pre-IPO stock prices are set.

Scale AI valuation after the Meta deal

The ~$29 billion figure is now more than a year old, and the business has changed meaningfully since:

Leadership change

Founder and CEO Alexandr Wang moved to Meta as part of the deal to lead its superintelligence efforts. Jason Droege, previously chief strategy officer, became CEO.

Customer shifts

After the deal, media reported that some AI lab customers that compete with Meta reduced or paused work with Scale, given Meta's stake. Scale cut part of its workforce in mid-2025. Droege's January 2026 letter acknowledged "media reporting following the Meta deal" but said the data business "performed best in the second half of the year and is now profitable".

Growth since

According to the same update, Scale ended 2025 with "well over $1B in new business", nearly half of it booked in Q4. It expects its applications business, which sells AI systems to enterprises and governments, to roughly double in 2026, and its international public sector business to double as well. In 2025 the US Department of Defense awarded Scale two contracts totalling nearly $200 million, and Scale leads the Pentagon's Thunderforge programme with Anduril and Microsoft.

What this means for valuation is genuinely uncertain. A shift from labelling data for AI labs towards government and enterprise applications could support a higher multiple if growth holds, but no new priced round has tested that. Treat ~$29 billion as the last firm reference point, not a current price. Pre-IPO valuation explained covers why stale marks can mislead.

Is there a Scale AI IPO?

Not yet. Scale has not filed a registration statement and has given no public IPO timeline. Several factors complicate a listing:

• Meta's 49% stake. Public investors would want clarity on how Meta's economic stake affects governance, customer relationships and any future sale.

• Business mix in transition. Investors usually want a few clean quarters after a strategic shift before an IPO.

• Government revenue. Defence and public sector contracts are attractive but lumpy, and need careful disclosure.

The flip side: the Meta deal gave many employees and early investors liquidity, so there is less pressure on Scale to list soon. Peers in AI infrastructure are also waiting; Databricks' CEO has pointed to 2027 at the earliest (Databricks IPO).

Scale AI vs other private AI companies

More on the Anthropic and Shield AI numbers in Anthropic cap table and Shield AI stock price and valuation.

How to get exposure to Scale AI before an IPO

• Private secondaries. Some marketplaces show Scale AI indications for accredited or professional investors. Company transfer restrictions apply and completed trades are rare. See the pre-IPO secondary market explained.

• Meta (META). Meta's stake gives its shareholders a tiny, indirect slice of Scale's economics. It is far too small relative to Meta's size to act as a proxy.

• Venture or growth funds holding Scale, with fees and dilution.

• OpenStocks: Scale AI is not listed. OpenStocks currently offers BEP-20 tokens on BNB Chain for Anthropic, Figure AI, Anduril and Neuralink. These provide economic price exposure only, with no ownership, voting, dividends or information rights, and are not available to US persons.

For a broader list of private AI names investors track, see best pre-IPO stocks 2026.

Scale AI's competitive position

Scale built its early business labelling data for self-driving cars, then became a major supplier of training data and human feedback to AI labs. Since 2025 that market has become more crowded. Specialist providers such as Surge AI, Mercor and Turing have grown quickly by supplying expert human feedback to the same labs, and several labs have built more of this work in-house.

Scale's response has been to lean into two areas where it has an edge: government and defence work, where its security clearances and Pentagon relationships take time to replicate, and enterprise AI applications, where it sells finished systems rather than data. Its SEAL lab, which publishes model evaluations and benchmarks such as Humanity's Last Exam, also gives it visibility with the labs it serves.

How to think about Scale AI's valuation today

Without a new priced round, any current figure is an estimate. A useful framework is to ask three questions:

1. Has revenue grown since June 2025? Scale says it booked well over $1B in new business in 2025 and that its applications business should roughly double in 2026. Growth supports a higher value.

2. Has the customer mix improved or weakened? Losing some AI lab work was a setback; replacing it with government and enterprise contracts could be worth more if those contracts are long-term.

3. What would Meta do? As a 49% holder, Meta's intentions affect any future sale, IPO or new investor's willingness to pay.

Until a new transaction answers these, the $29 billion implied by Meta's deal is the only anchor.

What would set a new Scale AI price

Three events could replace the 2025 anchor: a new primary round led by outside investors, a company-run tender offer for employees, or a strategic transaction involving Meta or another buyer. Each would produce a price that reflects the business as it is now, after the leadership change and the shift towards applications and government work. Until then, treat any per-share figure on a secondary marketplace as an indication, not a valuation, and check whether it refers to common or preferred shares.

Key takeaways

• Scale AI has no stock price or ticker; it is private.

• Meta's June 2025 deal ($14.3B for 49%, non-voting) implied about $29 billion, the last firm valuation reference.

• Founder Alexandr Wang left for Meta; Jason Droege is CEO.

• Scale says it booked well over $1B in new business in 2025, and that its data business is now profitable.

• No IPO filing or timeline exists. Scale AI is not listed on OpenStocks.

FAQ

What is Scale AI's stock price?

There isn't one; Scale is private. The last firm reference is the roughly $29 billion valuation implied by Meta's 2025 investment.

Does Meta own Scale AI?

Meta owns a 49% non-voting stake. Scale says it remains an independent company.

Is Scale AI going public?

No filing or timeline has been announced as of October 2026.

Who runs Scale AI now?

Jason Droege became CEO after founder Alexandr Wang joined Meta in 2025.

Is Scale AI profitable?

Scale says its data business became profitable in the second half of 2025. It has not disclosed company-wide profitability, which would only be confirmed in audited filings.

Disclaimer

This article is for information only and is not investment advice. Scale AI is not listed on OpenStocks, and OpenStocks is not affiliated with Scale AI, Meta or any company mentioned. OpenStocks tokens represent economic price exposure only, with no ownership, voting, dividends or information rights, and are not available to US persons or persons in the United States. Eligibility depends on your jurisdiction; see the Terms for the full list of prohibited jurisdictions. High risk, including possible total loss.