Meta Platforms has made a bold move in the escalating race for AI dominance by hiring Ruoming Pang, one of Apple's top artificial intelligence leaders, according to The Wall Street Journal.
Pang, who led Apple's foundation model team for AI and machine learning, will join Meta's recently launched Superintelligence Labs unit. His recruitment reportedly came with a compensation package worth tens of millions of dollars.
The hire marks Meta's latest effort to assemble a world-class AI team, following a $14 billion investment in Scale AI and the addition of notable tech leaders such as Scale CEO Alexandr Wang and former GitHub CEO Nat Friedman.
CEO Mark Zuckerberg is reportedly offering compensation packages of up to $100 million to secure top talent from competitors.
Pang's exit reflects broader challenges within Apple's AI strategy. While he oversaw a 100-person team working on large language models for Apple Intelligence and other tools, the company has recently reorganized its AI leadership and is exploring third-party model integration for Siri.
Analysts at Evercore ISI see Apple's shift as a pragmatic, cost-conscious approach that preserves flexibility in a rapidly evolving AI landscape.
Despite Pang's departure, Apple stock held steady, rising 0.1% to $210.20 in premarket trading. Meta shares also edged up 0.5% to $721.65. Analysts like Wells Fargo's Ken Gawrelski view Meta's aggressive AI investments as justified, given its $1.81 trillion market cap. He maintains a Buy rating with a $783 price target on Meta stock.
The recruitment underscores Meta's determination to lead the AI era and signals continued disruption in the talent pipeline among Big Tech rivals.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.