Shares in Meta Platforms (META) were higher today as its soon-to-be departing “AI Godfather” and new partner, sets his sights on creating a new €3 billion business.
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New AI Venture
According to an article in the Financial Times, Meta’s chief AI scientist Yann LeCun, who recently announced that he would be leaving the tech titan at the end of the year, is in early talks to raise €500 million for his new start-up. That would value the AI company at around €3 billion before it’s even opened its doors.
The report said that details of LeCun’s new venture called Advanced Machine Intelligence Labs would be announced in January. LeCun will serve as executive chair, however he did not comment on the FT‘s article.
The new venture’s chief executive is expected to be Alexandre LeBrun, founder of French health tech start-up Nabla and a former Facebook AI research engineer. It is building AI agents for doctors to save time when making notes about patients’ symptoms and prescriptions.
Machines With Human Brains
LeCun is a winner of the Turing Award, which is dubbed the ‘Nobel Prize of Computing’, and considered a godfather of modern AI. The new venture will focus on creating a new generation of superintelligent AI systems.
LeCun wants to focus on so-called world models where machines are powered by human-level intelligence. This approach trains AI models using visual learning rather than inputting vast amounts of data.
Meta, which has its own ambitious AI plans to catch up with rivals such as Alphabet (GOOGL), will not be an investor in LeCun’s business, but will form a partnership. This means that Meta could enjoy the fruits of LeCun’s AI labor and get access to tech they can commercialize.
Despite concerns over AI bubbles and spending; that should do wonders for Meta’s AI plans going forward. It could also boost its share price which has struggled – see above – in the last six months.
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