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 with the upcoming release of its new Llama AI model by the end of the year. This initiative is spearheaded by Meta Superintelligence Labs, aiming to improve upon previous models that did not meet expectations. Despite some internal challenges, including the loss of key team members, Meta remains committed to advancing its AI capabilities. The company’s stock has been buoyed by strong analyst ratings, with a consensus ‘Strong Buy’ and a projected price target indicating an 18% upside potential.
In addition to its AI developments, Meta Platforms has entered into a strategic partnership with Pure Storage to enhance its AI storage needs. This collaboration is expected to deploy significant storage capacity, reflecting Meta’s ongoing investment in AI infrastructure. The partnership has positively impacted Pure Storage’s stock, which saw a substantial increase following the announcement. Meta’s strategic moves, including the launch of a Super PAC to influence AI-related regulations, underscore its commitment to maintaining a competitive edge in the rapidly evolving tech landscape.