Meta Platforms AI Ambitions Soar With Llama 3.1: An 'Inflection Point In The Industry'
Portfolio Pulse from Surbhi Jain
Meta Platforms Inc (NASDAQ:META) has launched Llama 3.1, a significant open-source AI model, marking a major milestone in its AI ambitions. JPMorgan analyst Doug Anmuth highlights Meta's AI advancements and predicts it could become the most-used AI assistant by year-end. Meta's open-source strategy aims to democratize AI access and challenge industry giants. The company is also planning future iterations up to Llama 7, with potential capex guidance for 2024-2025 reaching $50 billion. Anmuth rates Meta as 'Overweight' ahead of its earnings next week.
July 25, 2024 | 12:44 pm
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Meta Platforms Inc (NASDAQ:META) has launched Llama 3.1, a significant open-source AI model, marking a major milestone in its AI ambitions. JPMorgan analyst Doug Anmuth highlights Meta's AI advancements and predicts it could become the most-used AI assistant by year-end. Meta's open-source strategy aims to democratize AI access and challenge industry giants. The company is also planning future iterations up to Llama 7, with potential capex guidance for 2024-2025 reaching $50 billion. Anmuth rates Meta as 'Overweight' ahead of its earnings next week.
Meta's launch of Llama 3.1 and its open-source strategy are significant moves in the AI space, likely to boost investor confidence and stock price. The anticipation of becoming the most-used AI assistant and the heavy investments in future AI iterations indicate strong growth potential. The 'Overweight' rating by JPMorgan further supports a positive short-term impact on Meta's stock.
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