Meta is sharpening its focus on wearable tech, buying a stake in eyewear giant EssilorLuxottica SA, Bloomberg reported Tuesday.
META's expanding AI prowess is driving user engagement as well as its social commerce footprint. However, a premium valuation makes the stock a risky bet.
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Meta's push for top-tier AI talent, which could cost up to $1.4 billion, raises questions about its approach to competing with other companies, a Rosenblatt analyst says.
Meta's aggressive AI hiring spree signals strength, not weakness, as Zuckerberg enters 'Founder Mode' to build a world-class AI team and capabilities. AI offers Meta opportunities to strengthen its core ad business, enable new ventures like WhatsApp Business, and defend against competitive threats from rivals like OpenAI and Google. Meta's Q1 results show robust revenue growth and margin expansion, with heavy AI investments expected to yield long-term, lucrative returns, despite near-term capex pressure.
Meta's Mark Zuckerberg is ready to spend billions to win the race to "superintelligence," and he's acquiring competitors and peers to do so.
Meta has been aggressively poaching AI talent from rivals like OpenAI, Google, and Anthropic. But a former OpenAI board member said "it'll be difficult" for Meta to succeed with its new hires.
Facebook owner Meta said it will appeal a 200-million-euro fine slapped on it by the EU after the bloc accused the company of breaking digital competition rules.
So far this year, one of the better performers among Magnificent 7 has been Meta Platforms Inc.
So far, at least 11 prominent researchers have joined from OpenAI as well as Google DeepMind and Anthropic.
Shares of Meta Platforms Inc. (NASDAQ: META) gained 0.43% over the past five trading sessions, continuing a rally that's seen the Magnificent Seven mainstay gain 6.98% over the past month.
CNBC's Andrew Ross Sorkin reports on the latest news.