What's Going On With Meta Platforms Stock Thursday?
Portfolio Pulse from Anusuya Lahiri
Meta Platforms, Inc. (NASDAQ:META) is reportedly preparing to launch a commercial version of its artificial intelligence model, LLaMA, which will compete with Microsoft Corp (NASDAQ:MSFT) and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) in the development of generative AI. The new version will be more widely available and customizable by companies. The move is expected to enhance Meta's position as an open model, allowing companies of all sizes to improve the technology and build applications. Meta's shares traded higher by 1.82% at $314.95 premarket on the last check Thursday.
July 13, 2023 | 10:49 am
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POSITIVE IMPACT
Meta is launching a commercial version of its AI model, which could enhance its competitive position.
The launch of a commercial version of Meta's AI model could enhance its competitive position against other tech giants like Microsoft and Alphabet. This could potentially attract more investors, driving up the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Alphabet could face increased competition from Meta's new AI model.
The launch of Meta's commercial AI model could pose a threat to Alphabet's position in the AI market, potentially impacting its stock negatively.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Microsoft could face increased competition from Meta's new AI model.
The launch of Meta's commercial AI model could pose a threat to Microsoft's position in the AI market, potentially impacting its stock negatively.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50