According to The Information, Meta Platforms (META) is once again planning to reshape its artificial intelligence work. According to reports, the company is forming a new unit called Meta Superintelligence Labs, which will be split into four groups. However, the reports could not be verified by Meta.
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Keeping Up with the Joneses
Meta is expanding aggressively in AI, with AGI as the end goal. To achieve this goal, the company has invested heavily in infrastructure and talent. First, there is a new group still going by the temporary name TBD (To Be Determined) Lab. This team is said to focus on building the next version of Meta’s large language model, Llama. As things stand, several new leaders are set to guide it, including hires from Google (GOOG), Apple (AAPL), and OpenAI. Second, there will be a products team that will work on tools such as the Meta AI assistant. Third, there is an infrastructure group that will look after the systems needed to run advanced models. Finally, the company’s long-standing Fundamental AI Research lab will continue its work on deeper research.
Moreover, former GitHub CEO Nat Friedman is expected to oversee product efforts, while Rob Fergus, a founder of Meta’s research lab, is set to continue leading that team. At the same time, long-time engineering executive Aparna Ramani is said to take charge of the new infrastructure unit. In addition, Jack Rae, Ruoming Pang, Jiahui Yu, Hongyu Ren, and Pei Sun are among the recent hires chosen to guide different parts of TBD Lab.
Meta Platforms has been moving fast on AI throughout this year. In February, it shifted leaders around its product group. By May, it split teams between research and product. In June, it made more changes after hiring former Scale AI CEO Alexander Wang and Friedman to co-lead the new labs. Now, another overhaul is on the way. Overall, the frequent changes highlight how much effort Meta Platforms is putting into its AI strategy, even as the final structure is still in progress.
Is META Stock a Buy?
On the Street, Meta continues to boast a Strong Buy consensus rating among analysts. The average META stock price target is $872.50, implying an 11.11% upside from the current price.
