Results for: Meta

As artificial intelligence (AI) rapidly evolves, the industry faces a growing challenge: the inadequacy of current evaluation methods to assess the capabilities of advanced AI models. Major tech companies like OpenAI, Microsoft, and Meta are developing their own internal benchmarks, raising concerns about transparency and hindering the ability to compare different AI technologies. This shift is prompting calls for standardized public evaluation methods to ensure accurate assessment of AI progress and its impact on the future.

Meta Platforms CEO Mark Zuckerberg has been absolved of personal responsibility in lawsuits alleging that his company, Meta, caused social media addiction in children. U.S. District Judge Yvonne Gonzalez Rogers dismissed claims that Zuckerberg was personally responsible for Meta’s alleged concealment of mental health risks associated with children’s use of Facebook and Instagram, citing a lack of specific evidence of his wrongdoing.

Meta Platforms Inc. (META) has been fined $15 million by South Korea for unlawfully gathering sensitive personal information from Facebook users. The South Korean Personal Information Protection Commission found Meta guilty of collecting data on political views, sexual orientation, and other sensitive information without consent and sharing it with advertisers. This is the latest in a series of penalties against Meta for privacy violations, highlighting a global trend of increased scrutiny over big tech companies’ handling of user data.

Meta Platforms Inc. (META) is making its open-source Llama AI models available to US government agencies for national security and defense applications. This move signifies a major expansion of Llama’s authorized use and positions Meta as a key player in the global AI race. The company is partnering with major government contractors and technology firms, including Amazon Web Services, Lockheed Martin, Microsoft, Oracle, and Palantir Technologies, to implement Llama across various defense initiatives.

Meta’s ambitious plans to construct a nuclear-powered AI data center in the U.S. have hit a roadblock due to the discovery of a rare bee species on the proposed site. The project, which aimed to provide emissions-free electricity for the new data center, faced several environmental and regulatory hurdles, forcing Meta to explore alternative energy sources.

Meta Platforms Inc.’s Reality Labs, the company’s augmented and virtual reality division, reported a $4.4 billion loss in the third quarter of 2024, marking its third consecutive quarterly loss. Despite the losses, Reality Labs saw a 29% revenue increase driven by strong hardware sales. The company anticipates continued investment and increased losses in 2024 as it pursues its metaverse ambitions.

Financial analyst Jim Cramer has lauded Meta CEO Mark Zuckerberg’s marketing prowess, comparing him to a digital puppeteer who can target individual consumers with unmatched precision. Cramer believes Zuckerberg’s data-driven approach allows Meta to dominate advertising, as seen in the company’s strong third-quarter earnings report. While Meta stocks saw an initial dip, Cramer remains bullish about the company’s future.

Meta Platforms (META) exceeded earnings expectations in the third quarter, driven by robust ad revenue growth and the increasing adoption of AI technologies. However, the company’s plans for substantial AI investments, particularly in Reality Labs, sparked mixed reactions from analysts, with some expressing concerns about the long-term return on investment.

Jim Cramer took to social media to clarify misleading headlines about AI losses. He argues that tech giants like Microsoft and Meta are not experiencing worsening AI losses, but rather, are thriving with AI advancements. Cramer encourages investors to look beyond sensationalized headlines and delve deeper into earnings calls and analyses to understand the true impact of AI on these tech giants.

As U.S. stock futures trade lower this morning, investors are keenly watching earnings reports from major tech giants like Amazon, Meta, Apple, Microsoft, and Uber. This article delves into the key figures to expect from these companies, highlighting their recent stock performance and market expectations.