Meta Stock Price Spikes Ahead Of The Release Of AI Model

The stock of Meta Platforms, Inc. is rising on Thursday as a result of news that social media giant is getting ready to introduce a commercial version of its artificial intelligence (AI) platform. The stock price is up by more than 3% in the last 24 hours. 

Earlier this year, Meta made its LLaMA language model available to academics and researchers. Nevertheless, the Financial Times said that the new version will be more publicly accessible and customizable by businesses.

The move will give Meta the chance to compete with Google and Microsoft-backed OpenAI, who are gaining ground in the race to create generative AI. Large language models (LLMs), which are trained on enormous quantities of data and need a lot of computer power, are the brains behind the program, which can produce text, graphics, and code.

Meta Joining The Artificial Intelligence (AI) Race

The anticipated release of Meta comes as the competition among Silicon Valley tech companies to become the leading players in AI is intensifying.

The move also assists Meta in strengthening its moat as an open model, enabling businesses of all sizes to develop applications and advance the technology. For more than a decade, Meta has been engaged in the study and development of AI. It has considered charging business clients the option to customize the model to their requirements by exploiting their private data. 

Investors disliked Meta’s expensive metaverse goal, thus the company has recently hurried to increase its AI investment. 

“The competitive landscape of AI is going to completely change in the coming months, in the coming weeks maybe, when there will be open source platforms that are as good as the ones that are not,” vice-president and chief AI scientist at Meta, Yann LeCun, said.

Meta Stock Price Recovering Losses

The stock price has increased significantly this year as a result of investors’ apparent decision to ignore worries about its metaverse project in favor of concentrating on its cost-cutting initiatives.

Since the tech market meltdown, Meta has largely made up its losses, and the stock is no longer as inexpensive as it once was. However, if the advertising market does return and the business can show that its recent cost-cutting strategy has paid off, the share price may rise further.