Meta To Use European Social Media Data For AI Training: Report
Portfolio Pulse from Shivani Kumaresan
Meta Platforms Inc. (NASDAQ:META) plans to use public social media content from Europe to train its AI models, aligning its data usage policies with other regions. This decision follows previous hesitations due to EU privacy regulations. Advocacy group NYOB has filed complaints against Meta's notifications, arguing they don't meet EU standards. Meta's stock has gained 84% in the last 12 months. Investors can gain exposure via Vanguard Communication Services ETF (NYSE:VOX) and Communication Services Select Sector SPDR Fund (NYSE:XLC).
June 10, 2024 | 5:37 pm
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Meta Platforms Inc. plans to use public social media content from Europe to train its AI models, aligning its data usage policies with other regions. This decision follows previous hesitations due to EU privacy regulations.
Meta's decision to use European social media data for AI training could enhance its AI capabilities, potentially driving further stock gains. However, regulatory challenges from EU privacy standards could pose risks.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Investors can gain exposure to Meta's stock via Vanguard Communication Services ETF (NYSE:VOX). Meta's stock has gained 84% in the last 12 months.
VOX holds Meta as a significant component, and Meta's positive stock performance could benefit VOX. However, regulatory challenges could impact Meta's stock and, consequently, VOX.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Meta's stock via Communication Services Select Sector SPDR Fund (NYSE:XLC). Meta's stock has gained 84% in the last 12 months.
XLC holds Meta as a significant component, and Meta's positive stock performance could benefit XLC. However, regulatory challenges could impact Meta's stock and, consequently, XLC.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50