facebook parent company meta platform (META) on Thursday launched what CEO Mark Zuckerberg called “the most intelligent AI assistant at our disposal.” Meta stock rose in Thursday trading.
X
The trillion-dollar tech giant announced the latest version of its Meta AI assistant and plans to feature chatbots more prominently on Instagram, Messenger, WhatsApp, and Reels. The company also launched a standalone website for the bot at Meta.ai. This product is powered by the latest version of the large-scale language model Llama 3.
“Thanks to the latest advancements in Meta Llama 3, Meta AI is smarter, faster, and more fun than ever before,” the company said in a blog post.
On the stock market today, Meta shares rose 1.5% to close at 501.80.
Metastock: Aiming for AI leadership
Meta has invested significant resources into launching AI tools in recent years. The company is trying to compete with AI models such as OpenAI’s ChatGPT, a chatbot that has sparked a generative AI boom since its launch in November 2022. Meta released the first version of its AI chatbot last September.
Zuckerberg wrote on Threads on Thursday that the company’s goal is to “build the world’s leading AI.”
Meta AI’s new website features a bar for entering prompts, similar to ChatGPT. This includes the ability to search the web for real-time information. The company’s blog post provides a list of recommended uses for chatbots.
“Planning a night out with friends? Let Meta AI recommend sunset views and vegan-friendly restaurants,” the blog post says. “Planning a weekend getaway? Let Meta AI find you Saturday night concerts.”
Meta also released two open source Llama 3 models that are freely available to external developers. Each will be available across cloud platforms. Amazon (AMZN), microsoft (MSFT), alphabet (Google), snowflake (snow), IBM (IBM), according to Meta’s blog post.
Meta earnings report scheduled
Although Meta doesn’t charge for the use of its model, it certainly expects a big return on its AI investment. Zuckerberg previously told analysts that the company sees AI tools as a way to increase engagement with its apps and drive more ad sales. It could also enable ad formats such as click-to-message ads that launch chat prompts between businesses and Meta app users.
Meta is scheduled to announce its first quarter results on Wednesday, April 24th. Meta stock is up 46% so far this year and 131% over the past 12 months.
You may also like:
Is Meta stock a buy now?
Top Growth Stocks to Buy and Watch
Learn how to time the market with IBD’s ETF Market Strategy
Find the best long-term investments with IBD’s long-term leaders
Magnificent Seven Stocks: Latest News and Market Cap Weighting
