Yann LeCun, 65, a Turing Award-winner considered a pioneer in AI development, has told colleagues he will leave Meta in the coming months, according to a report.
Meta may be about to lose one of its most renowned AI heads: Yann LeCun, a chief AI scientist at the company, is planning to leave the company to build his own startup, the Financial Times reported, citing anonymous sources.
Meta Platforms (NASDAQ: META) stock has fallen 16% since the company's Q3 results were reported on October 29. This decline was primarily driven by two factors that concerned investors: a one-time $15.93 billion tax charge and the announcement of higher-than-expected capital expenditures for its AI initiatives.
Meta's chief artificial intelligence scientist Yann LeCun is planning to leave the social media company to set up his own startup, the Financial Times reported on Tuesday, citing people familiar with the matter.
Meta Platforms, Inc.'s 20% stock plunge reflects a rational market re-pricing rather than an emotional selloff. Despite strong Q3 growth, Meta's topline expansion is clearly decelerating due to its already saturated user base. Future growth depends heavily on monetization per user, which faces natural limits and sustainability concerns.
Meta Platforms (META) trades at a compelling valuation, now the cheapest among the Magnificent 7, with a forward P/E of 24. Despite a recent 18% stock drop due to high capex guidance, META's AI-driven ad revenue and double-digit growth remain strong tailwinds. META's current valuation shows only a 5% premium to the S&P 500, despite superior growth, margins, and a significant competitive moat.
Bank of America just issued research that points to a potentially troubling shift in how major tech companies fund their artificial intelligence (AI) ambitions.
BNP Paribas's Stefan Slowinski warned about Meta's unchecked AI spending. Now he thinks the stock's recent selloff is just the beginning.
Meta underperformed the S&P due to investor concerns over rising CapEx for AI investments, echoing past Metaverse worries. There, however, is one key difference to the 2022 metaverse sell-off, making the company a compelling pick right now. By underlying the market growth rate and the compressed cash conversion caused by the AI CapEx, Meta looks nevertheless undervalued by 33%.
Meta will invest $600 billion in the United States by 2028 to build artificial intelligence (AI) data centers. “As the importance of AI grows, so will the importance of data centers,” the company said in a Friday (Nov. 7) press release.
What an earnings season it's been for mega-cap tech stocks. Earnings beats, guidance raises, and expectations of future revenue and profit growth led many of the most closely-watched tech giants to see some meaningful price appreciation following the release of their results.
Meta Platforms is experiencing strong momentum in its social media platforms. Revenue grew 26% year over year in Q3, as Meta is benefiting from AI-driven advertising.