Meta approached artificial intelligence startup Perplexity AI about a potential takeover bid before ultimately investing $14.3 billion into Scale AI, CNBC confirmed on Friday.

The two companies did not finalize a deal, according to two people familiar with the matter who asked not to be named because of the confidential nature of the negotiations.

One person familiar with the talks said it was “mutually dissolved,” while another person familiar with the matter said Perplexity walked away from a potential deal.

Bloomberg earlier reported the talks between Meta and Perplexity. Perplexity declined to comment. Meta did not immediately respond to CNBC’s request for comment.

Meta’s attempt to purchase Perplexity serves as the latest example of Mark Zuckerberg‘s aggressive push to bolster his company’s AI efforts amid fierce competition from OpenAI and Google parent Alphabet. Zuckerberg has grown agitated that rivals like OpenAI appear to be ahead in both underlying AI models and consumer-facing apps, and he is going to extreme lengths to hire top AI talent, as CNBC has previously reported.

Meta now has a 49% stake in Scale after its multibillion-dollar investment, though the social media company will not have any voting power. Scale AI’s founder Alexandr Wang, along with a small number of other Scale employees, will join Meta as part of the agreement.

Earlier this year, Meta also tried to acquire Safe Superintelligence, which was reportedly valued at $32 billion in a fundraising round in April, as CNBC reported on Thursday.

Daniel Gross, the CEO of Safe Superintelligence, and former GitHub CEO Nat Friedman are joining Meta’s AI efforts, where they will work on products under Wang. Gross runs a venture capital firm with Friedman called NFDG, their combined initials, and Meta will get a stake in the firm.

OpenAI CEO Sam Altman said on the latest episode of the “Uncapped” podcast, which is hosted by his brother, that Meta had tried to poach OpenAI employees by offering signing bonuses as high as $100 million with even larger annual compensation packages.

“I’ve heard that Meta thinks of us as their biggest competitor,” Altman said on the podcast. “Their current AI efforts have not worked as well as they have hoped and I respect being aggressive and continuing to try new things.”

–CNBC’s Kate Rooney contributed to this report

WATCH: Meta tried to buy Perplexity before Scale AI deal

Ether ETFs have finally come to life this year after some started to fear they may be becoming zombie funds.

Collectively, the funds tracking the price of spot ether are on pace for their sixth consecutive week of inflows and eight positive week in the last nine, according to SoSoValue.

The second largest cryptocurrency has become more attractive to institutions in recent weeks largely due to recent regulatory momentum in the U.S. around stablecoins – many of which run on the Ethereum network – the successful IPO of Circle, the issuer of the second-largest stablecoin; and new leadership at the Ethereum Foundation.

“What we’re seeing is institutional recalibration,” said Ben Kurland, CEO at crypto charting and research platform DYOR. “After the initial ETH ETF approval fizzled without a price pop, smart money started quietly building positions. They’re betting not on price momentum but on positioning ahead of utility unlocks like staking access, options listings, and eventually inflows from retirement platforms.”

The first year of ether ETFs, which launched in July 2024, has been characterized by weak demand. While the funds have had spikes in inflows, they’ve trailed far behind bitcoin ETFs in both inflows and investor attention – amassing about $3.9 billion in net inflows since listing versus bitcoin ETFs’ $36 billion in their first year of trading.

“With increasing acceptance of crypto on Wall Street, especially now as a means for payments and remittances, investors are being drawn to ETH ETFs,” said Chris Rhine, head of liquid active strategies at Galaxy Digital.

Additionally, he added, the CME basis on ether – or the price difference between ether futures and the spot price – is higher than that of bitcoin, giving arbitrageurs an opportunity to profit by going long on ether ETFs while shorting futures (a common trading strategy) and contributing to the uptrend in ether ETF inflows.

Despite the uptrend in inflows, the price of ether itself is negative for this month and flat over the past month.

For the year, it’s down 25% as it’s been suffering from an identity crisis fueled by uncertainty about Ethereum’s value proposition, weaker revenue since its last big technical upgrade and increasing competition from Solana. Market volatility driven by geopolitical uncertainty this year has not helped.

In March, Standard Chartered slashed its ether price target by more than half. However, the firm also said the coin could still see a turnaround this year.

Since last week’s big spike in inflows, they’ve “slowed but stayed net positive, suggesting conviction, not hype,” Kurland said. “The market looks like a heart monitor, but the buyers are treating it like a long-term infrastructure bet.”