Meta Platforms’ Bold AI Investment and Wearable Tech Ambitions

Meta Platforms ( (META) ) has been popular among investors this week. Here is a recap of the key news on this stock.

Meta Platforms is making significant strides in the artificial intelligence sector, having recently decided to invest $14.3 billion in Scale AI, acquiring a 49% stake in the company. This move underscores Meta’s commitment to advancing artificial general intelligence (AGI), with Scale AI’s CEO Alexandr Wang joining Meta to lead its new ‘superintelligence’ division. This strategic investment highlights Meta’s focus on building more sophisticated AI systems, positioning itself strongly in the competitive AI market. Meanwhile, Meta’s latest venture into wearable technology with the Oakley Meta HSTN glasses, co-produced with EssilorLuxottica, aims to capture a share of the wearable tech market. Despite these innovations, the company faces challenges as its AI system’s ‘Discover’ tab has raised privacy concerns among users. Nevertheless, Wall Street analysts maintain a Strong Buy consensus on META stock, with an average price target suggesting shares are almost fairly valued.