Meta Platforms ( (META) ) has been popular among investors this week. Here is a recap of the key news on this stock.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Meta Platforms is set to introduce ad-free subscriptions for Facebook and Instagram in the UK, priced at £2.99 per month for web users and £3.99 for mobile users. This move comes as European regulators scrutinize the company’s advertising practices. The subscription will prevent personal data processing for ad targeting, although users can still opt for the free version with ads. This initiative follows Meta’s discussions with the UK Information Commissioner’s Office and a legal settlement over Facebook ads.
In parallel, Meta Platforms is exploring a partnership with Google Cloud to leverage its Gemini AI models to enhance its advertising business. This collaboration could improve ad targeting and return on investment for advertisers. Despite Meta’s significant investment in AI, this potential partnership underscores the challenges of scaling AI technology and the necessity for collaboration among tech giants. Meanwhile, Meta faces regulatory pressure in Singapore, where it risks a hefty fine for not addressing Facebook scams effectively.