Meta Stock Rises As Zuckerberg Touts ‘Most Intelligent’ Free AI Assistant – Investor’s Business Daily

author
2 minutes, 37 seconds Read

Facebook parent company Meta Platforms (META) on Thursday launched what Chief Executive Mark Zuckerberg called “the most intelligent AI assistant that you can freely use.” Meta stock gained in Thursday trading.



outlook and how the social media company is competing with Meta Platforms. Tech analyst Debra Aho Williamson explains how Snap is shifting from its foundation in augmented reality to lean into artificial intelligence and how the company is refocusing advertising efforts to improve revenue.” vid-name=”Can Snap Catch Meta? How The Social Media Platform Is Harnessing AI To Improve Its Revenue Picture” vid-cat=”Industry Insights” vid-date=”02/15/2024″ vid-date-tmsp=”1707998918″ vid-image=”https://www.investors.com/wp-content/uploads/2024/02/XgDAWzGT-640×360.jpg” vid-authors=”MEREDITH HEYMAN”>
X



The trillion-dollar tech giant announced the latest version of its Meta AI assistant, with plans to feature the chatbot more prominently across Instagram, Messenger, WhatsApp and Reels. The company also launched a stand-alone website for the bot at Meta.ai. The product is powered by the latest version of its large language model Llama 3.

“Thanks to our latest advances with Meta Llama 3, Meta AI is smarter, faster and more fun than ever before,” the company said in a blog post.

On the stock market today, Meta stock added 1.5% to close at 501.80.

Meta Stock: Targeting AI Leadership

Meta has invested significant resources into launching AI tools in recent years. It is looking to compete with AI models such as OpenAI’s ChatGPT, the chatbot that sparked the generative AI craze after it launched in November 2022. Meta released the first version its AI chatbot last September.

Zuckerberg wrote on Threads Thursday that the company’s goal is to “build the world’s leading AI.”

Meta AI’s new website features a bar to type in prompts, similar to ChatGPT. It includes the ability to search the web for real-time information. The company’s blog post offered a list of suggested uses for the chatbot.

“Planning a night out with friends? Ask Meta AI to recommend a restaurant with sunset views and vegan options,” the blog post said. “Organizing a weekend getaway? Ask Meta AI to find concerts for Saturday night.”

Meta also released two open-source Llama 3 models for outside developers to freely use. Each will be available across cloud platforms from Amazon (AMZN), Microsoft (MSFT), Alphabet (GOOGL), Snowflake (SNOW), IBM (IBM) and others, Meta’s blog post said.

Earnings Report Ahead For Meta

While Meta is not charging for the use of its models, it certainly expects big returns on its AI investments. Zuckerberg has previously told analysts that the company views AI tools as a way to increase engagement on its apps, helping to sell more advertising. It could also unlock forms of advertising, such as Click-to-Message ads that launch chat prompts between businesses and users of Meta’s apps.

Meta will report first quarter earnings on Wednesday, April 24. Meta stock has gained 46% so far this year and 131% over the past 12 months.

YOU MAY ALSO LIKE:

Is Meta Stock A Buy Right Now?

Top Growth Stocks To Buy And Watch

Learn How To Time The Market With IBD’s ETF Market Strategy

Find The Best Long-Term Investments With IBD Long-Term Leaders

Magnificent Seven Stocks: Latest News & Market Cap Weighting

This post was originally published on this site

Similar Posts