Meta announced Friday it will integrate content from major news organizations into its artificial intelligence assistant to provide Facebook, Instagram and WhatsApp users with real-time information.
A lot of major hedge funds were quite busy ringing the register on some of the beloved big-tech stars in the third quarter.
Meta Platforms, Inc. remains a Strong Buy as recent 11% dip is a buying opportunity, not a warning. META's AI-driven ad business is compounding revenue growth, with Advantage+ and Reels generating $60B and $50B annual run rates, respectively. AI CapEx concerns are overblown; META funds investments from a strong cash position and robust free cash flow.
Meta has struck several commercial AI data agreements with news publishers including USA Today, People Inc, CNN, Fox News, The Daily Caller, Washington Examiner and Le Monde, Axios reported on Friday.
Meta Platforms Inc (NASDAQ:META, XETRA:FB2A, SIX:FB) shares rose 3.4% on Thursday after-hours, adding about $57 billion to its market value, after reports suggested Mark Zuckerberg is preparing to dial back spending on the metaverse and shift more resources toward artificial intelligence and smart glasses. According to an exclusive from Bloomberg, the Facebook owenr is planning to cut the budget for Reality Labs, the division behind its virtual-reality headsets and metaverse projects.
Zuckerberg's bet on immersive online worlds has lost the company more than $77 billion since 2020.
Meta is expected to meaningfully cut resources for building the so-called metaverse, an effort CEO Mark Zuckerberg once framed as the future of the company. Bloomberg's Kurt Wagner discusses the news and the reason behind it with Caroline Hyde and Ed Ludlow on “Bloomberg Tech.
Meta Platforms, Inc. is rated a Buy, with shares viewed as undervalued and offering solid value into 2026. META's strategic pivot away from the metaverse toward AI, while maintaining balance sheet strength, is seen as a positive catalyst. Despite aggressive AI capex and expense growth, META maintains strong free cash flow and profitability, justifying a higher P/E multiple.
The EU said Thursday it had opened an antitrust probe to determine if the way Meta is rolling out AI features in WhatsApp breaches the bloc's competition rules.
Shares of Meta Platforms (META) surged Thursday following a report that the company is looking to significantly cut spending on its "metaverse" projects next year.
Meta Platforms could be set to scale back its artificial-intelligence ambitions, much to the relief of anxious investors.
Meta is launching a new centralized support hub for Facebook and Instagram users, the company announced on Thursday, adding that its prior support options haven't “always met expectations.” Within the hub, users will find tools to report an account issue, recover an account they've lost access to, and get answers via AI-powered search and an AI assistant.