Meta Platforms ( (META) ) has been popular among investors this week. Here is a recap of the key news on this stock.
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Meta Platforms is making significant strides in the AI sector, aggressively hiring top talent from rivals like OpenAI and investing heavily in AI development. The company recently announced a $14.3 billion investment to acquire nearly half of Scale AI, with Scale’s CEO joining Meta to lead its ‘superintelligence’ team. This move is part of Meta’s broader strategy to dominate the AI space, as it also considers shifting from its Llama language models to those from competitors like OpenAI and Anthropic.
In addition to its AI ambitions, Meta is focusing on sustainability by powering its AI data centers with renewable energy. The company has signed a deal with Invenergy to supply 791 megawatts of solar and wind power, marking its second partnership with the clean energy provider. Meta’s commitment to renewable energy aligns with its rapid expansion of AI data centers, as it seeks to keep pace with competitors such as Microsoft and Amazon. Despite these advancements, Meta faces regulatory challenges in Europe, where it risks daily fines for non-compliance with the EU’s Digital Markets Act.