Meta offered Apple's executive over 200 million dollars.

Meta offered one of the leading artificial intelligence executives at Apple over 200 million dollars to attract him to their company, according to Bloomberg. Ruiming Pang, who recently led Apple's foundational models team, left the corporation to join Meta's new Superintelligence Labs division, which focuses on creating advanced artificial intelligence systems capable of operating at or above human intelligence levels. At Apple, he managed a team of about 100 employees working on the development of large language models. The models created by Pang's team are used for Apple Intelligence features such as email summarization, prioritized messaging, and Genmoji. According to sources familiar with the situation, Meta's offer includes a substantial base salary, a signing bonus, and a significant stock reward that constitutes the majority of the compensation. The total payout depends on achieving certain metrics and tenure over several years. Reports indicate that Apple did not even attempt to compete with this offer. It significantly exceeds the compensation of all Apple employees, except for CEO Tim Cook. Pang's compensation is among the highest in the corporate environment and rivals packages for executives at leading global banks. In a podcast last month, OpenAI CEO Sam Altman stated that Meta has been making huge offers to many of our employees, including signing bonuses of around 100 million dollars, which surpasses annual compensation. It is also reported that Apple appointed Zhifeng Chen as head of its foundational models team and implemented a more distributed management structure, where responsibility is shared among several senior engineers. In addition to Pang, Meta's Superintelligence Labs includes former GitHub CEO Nat Friedman, AI startup founder Daniel Gross, and Scale AI co-founder Alexander Wang.