From Nasdaq: 2024-04-12 09:42:00

Meta Platforms unveiled its next-generation custom-made chips for AI, the MTIA, designed to optimize compute efficiency for deep learning recommendation models. The chip promises substantial enhancements in compute and memory bandwidth. Meta aims to surpass commercially available GPUs by investing in domain-specific silicon. Strategic investments extend to memory bandwidth, networking, and capacity.

As Meta expands MTIA support for gen AI workloads and builds GPU clusters, it moves closer to pioneering powerful and efficient AI infrastructure. Meta leverages gen AI for user engagement through AI stickers, editing tools, and advanced conversational assistant. Meta also collaborates on technical standards for identifying AI content, enhancing user experiences on its platforms.

Meta forecasts total revenues between $34.5 billion and $37 billion for Q1 2024, with the Zacks Consensus Estimate at $36.15 billion and earnings projected at $4.29 per share. NVIDIA, Veeva Systems, and Synopsys are top-ranked stocks with Zacks Rank #1 in the technology sector. Bitcoin has historically outperformed other assets during presidential election years, with significant gains anticipated in the future.

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