So far this year, one of the better performers among Magnificent 7 has been Meta Platforms Inc.
Meta Platforms (NASDAQ: META) is scheduled to distribute its quarterly dividend on June 26.
Meta is reportedly in talks to hire artificial intelligence (AI) investors Nat Friedman and Daniel Gross and partially buy out their venture capital fund, NFDG. [contact-form-7] The company aims to have Friedman and Gross help lead its AI efforts, The Information reported Wednesday (June 18), citing unnamed sources.
Meta Platforms is an incredibly strong company, sporting robust margins, multiple avenues for growth, and a portfolio of incredible digital properties. The WhatsApp development only strengthens our investment thesis, as billions more users getting monetized should materially impact the bottom line in the short, medium, and long-term. Trading at an entirely reasonable price point, we're re-iterating our 'Strong Buy' rating on the stock.
OpenAI is phasing out its work with Scale AI and cutting ties with the data provider following Meta's deal with the startup, an OpenAI spokesperson told Bloomberg on Wednesday.
Scale AI's Interim CEO Jason Droege said the AI startup is not pivoting or winding down following Meta's multibillion-dollar investment. Meta has a 49% stake in Scale AI after investing $14.3 billion into the startup, a deal that included the departure of Scale AI founder Alexandr Wang for the social media company.
OpenAI has been winding down its work with Scale AI over the last year, according to a spokesperson. Meta is investing $14.3 billion into Scale AI and will have a 49% stake in the startup, which helps tech companies prepare data they use to train cutting-edge AI models.
Shares of Meta Platforms Inc. (NASDAQ: META) gained0.93% over the past five trading sessions, bringing the stock's year-to-date gain to nearly 17%.
Sam Altman, chief executive of OpenAI, has accused Meta, led by Mark Zuckerberg, of attempting to lure his top artificial intelligence experts with “crazy” signing bonuses of up to $100 million. Speaking on the Uncapped podcast (hosted by his brother Jack), Altman described these offers as unusually large upfront compensation packages.
OpenAI CEO Sam Altman said Meta is offering "giant offers," including signing bonuses as high as $100 million, to lure top AI talent away from his company amid an intensifying battle for supremacy in artificial intelligence. Speaking on a podcast hosted by his brother, Altman said that while the offers from Meta — the parent company of Facebook, Instagram, and WhatsApp — were aggressive, none of OpenAI's “best people” had yet left.
Sam Altman has reportedly accused Meta of offering nine-figure signing bonuses to poach his workers. [contact-form-7] The OpenAI CEO says that Meta was making “giant offers” of $100 million as it tries to catch up in the artificial intelligence (AI) race, the Financial Times (FT) reported Wednesday (June 18), citing Altman's comments on his brother's Uncapped podcast.
Sam Altman says Meta's aggressive $100M+ offers to OpenAI staff have failed, as top talent values OpenAI's culture and AI leadership prospects. Senate passes GENIUS Act, creating a regulatory framework for stablecoins, aiming to boost U.S. dollar dominance and Treasury demand.