Meta Platforms' (META) FQ2 earnings report and latest AI restructuring effort reflect near-term uncertainties. The company's robust core ad business, AI advancements, and pipeline products (e.g., the Hypernova smart glasses) support double-digit EPS growth rates. The long-term reward/risk ratio is further skewed thanks to other compounding forces afoot.
Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) has frozen hiring in its artificial intelligence (AI) division after an intense recruitment spree that brought in over 50 researchers and engineers from competitors like OpenAI, Google DeepMind, Apple, Anthropic, and others. First reported by the Wall Street Journal and confirmed by a Meta spokesperson, the freeze also blocks internal transfers between teams, with exceptions requiring approval from Meta's Chief AI Officer, Alexandr Wang.
Meta has frozen hiring in its AI organization after restructuring the unit earlier this week, reports The Wall Street Journal. The hiring freeze follows weeks of poaching more than 50 AI researchers and engineers from competitors.
So far this year, one of the better performers among the Magnificent 7 has been Meta Platforms Inc.
Key Points in This Article: AI has driven Big Tech valuations skyward with hundreds of billions spent and trillions more planned.
Meta has reportedly paused hiring for artificial intelligence (AI) professionals following a massive recruitment drive. The freeze went into effect last week and is happening amid a wider restructuring of the AI division, the Wall Street Journal (WSJ) reported late Wednesday (Aug. 20), citing sources familiar with the matter.
Meta Platforms (META) reportedly has frozen hiring in its high-profile artificial intelligence division as investors grow concerned about the unit's surging costs.
A pullback isn't the same as a bubble popping—especially with the huge wave of money still set to flow into AI infrastructure.
Meta's hot AI hiring spree just iced over. The tech giant said it's "creating a solid structure for our new superintelligence efforts.
A Meta spokesperson said that the pause was simply "some basic organizational planning" following its latest superintelligence efforts. The moves come amid growing concerns that investment in AI is moving too fast and a broader sell-off of U.S. technology stocks this week.
After a months-long hiring spree, Meta Platforms has frozen hiring in its artificial-intelligence division, according to a new report.
A hiring freeze at Meta Platforms' artificial-intelligence operations is in effect after investors voiced concerns about the scale of Meta's stock-based compensation costs.