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☆ Meta Platforms gets billions from China without headaches many U.S. companies face there
  + stars: | 2024-04-22 | by ( Paulina Likos | ) www.cnbc.com   time to read: +9 min
As many American companies struggle to navigate the world's second-largest economy, Meta Platforms has found itself raking in billions of dollars from China without the direct challenges of doing business there. The influx in spending from Chinese ecommerce advertisers has been a "significant positive" for Meta, said Rohit Kulkarni, analyst at Roth MKM covering internet companies. Many American companies doing business in China have battled similar challenges as the post-Covid recovery there has progressed slower than expected. Meta has said it has a "diverse advertiser base" of Chinese companies. The concern is that as more Chinese advertisers target American consumers through Meta's platforms, that could drive up the price of ads for everyone.
Persons: Temu, Rohit Kulkarni, Roth, Meta's, Piper Sandler, Tom Champion, Estee Lauder, Meta, Susan Li, Shein, Kate Scott, Dawkins, —, Roth's Kulkarni, Piper Sandler's, they're, Josh Silverman, we're, Piper, doesn't, Jim Cramer's, Jim Cramer, Jim, Facebook Mark Zuckerberg, Kenzo Tribouillard Organizations: Club, Super, U.S, Meta, Apple, Facebook, Tencent, Holdings, Nasdaq, CNBC, Wall Street, Google, European Commission, AFP, Getty Locations: China, Ireland, Shanghai, Singapore, U.S, Meta, Brussels
☆ Nvidia isn't the only winner from Meta Platform's massive spending on AI chips
  + stars: | 2024-01-19 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com   time to read: +7 min
Meta Platforms is planning to pay Nvidia billions of dollars this year for its cutting-edge AI technology. Nvidia's stock has been off to a blistering start this year, up more than 20%, including a 3% gain Friday. Estimates on Nvidia's share of the AI training market vary, but is generally thought to be well above 80%. Still, Nvidia's stock more than tripled in 2023, leading the S & P 500, and has so far been a big winner in 2024. As Meta secures more AI chips, they will be placed in data centers where their computational capabilities will be utilized.
Persons: Mark Zuckerberg, Zuckerberg, Meta, they've, Jim Cramer, Wells, Wells Fargo, Aaron Rakers, Jim, Eaton, We've, Jim Cramer's, Facebook Mark Zuckerberg, Kenzo Tribouillard Organizations: Nvidia, Taiwan Semiconductor Manufacturing Company, Taiwan Semi, Meta, Apple, Facebook, Reality Labs, Eaton Corp, CNBC, European Commission, AFP, Getty Locations: Taiwan, Wells Fargo, Brussels
☆ Club holding Meta is likely to be a winner in the nascent generative AI battle
  + stars: | 2023-03-01 | by ( Paulina Likos | ) www.cnbc.com   time to read: +6 min
Meta Platforms (META) is muscling its way into a heated AI arms race just as competitors Microsoft (MSFT) and Alphabet (GOOGL) are making big strides. Generative AI encompasses a set of machine learning techniques that allow computers to generate text, images and other media in response to human queries. The Facebook parent's generative AI capabilities are competitive, according to Mark Zgutowicz, a research analyst at Benchmark. META 1Y mountain Meta Platforms (META) one-year performance. We also expect Meta to benefit from it's partnership with Club holding Nvidia (NVDA), whose semiconductors and related software are integral to the generative AI field.
☆ Mark Zuckerberg announces new team at Meta working on A.I. products for Instagram, WhatsApp
  + stars: | 2023-02-27 | by ( Kif Leswing | ) www.cnbc.com   time to read: +2 min
The move comes as big tech companies and well-capitalized startups alike race to tout advances in machine learning techniques and incorporate artificial intelligence models into their products. The unit will combine several teams across Meta, CEO Mark Zuckerberg said in a Facebook post. Zuckerberg said that the team would build "creative and expressive" tools to be used inside Meta's products. "We're exploring experiences with text (like chat in WhatsApp and Messenger), with images (like creative Instagram filters and ad formats), and with video and multi-modal experiences," Zuckerberg said. For example, large language models created by OpenAI have been integrated into a Microsoft Bing chatbot as well as a separate chatbot called ChatGPT.
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