Meta Platforms introduces new AI model Llama 3.1 to compete with ChatGPT, potentially driving user engagement

From Nasdaq: 2024-08-11 14:23:00

Meta Platforms (NASDAQ: META) has billions of active users, giving it a vast testing ground for new products like artificial intelligence (AI). The company’s new AI model, Llama 3.1, aims to surpass ChatGPT with open-source accessibility and integration across platforms, potentially attracting developers and users alike.

With Meta’s AI poised for success, the company could see increased user engagement and ad revenue. The stock has already shown impressive growth, with sales up 22% to $39 billion and net income rising by 73%. If the AI initiative proves successful, Meta Platforms could be a strong buy for investors.

While Meta’s AI has promising potential, its success hinges on user adoption and engagement. If Meta can demonstrate that its AI is superior to competitors like ChatGPT, it could pave the way for increased monetization opportunities. Investors should monitor user response to determine the long-term viability of Meta’s AI platform.



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