Meta Celebrates AI Success Due To Exceeding Revenue Forecasts

Meta’s Shares Increased 12%, Bringing Its Market Value to USD 50 Billion!

Mark Zuckerberg (Mark Zuckerberg), CEO of Facebook’s parent firm Meta, stated that artificial intelligence (AI) is assisting the company in increasing Facebook and Instagram traffic and improving ad sales. Meta’s second-quarter revenue forecast exceeded analysts’ forecasts.

It was previously claimed that Meta did not use GPUs in the development of its AI business, instead opting for CPUs, causing the company to fall behind competitors in the AI development process. Meta had planned to release a proprietary CPU in 2022 but instead chose to order a multibillion-dollar Nvidia GPU. Since then, Meta has undergone multiple significant upgrades to support its main business, including a large endeavour to improve its AI capabilities.

“I think a lot of Meta’s AI investments, similar to Alphabet, Google’s parent company, are going into advertiser clients,”

as said by James Cordwell who is an analyst at stockbroker Atlantic Equities.

Meta saw an opportunity to roll out AI agents to billions of people in a useful and meaningful way. I expect that once we nail down that experience, there will be a lot of interest in AI agents for business messaging and customer support. Over time, this will expand to our work on the Metaverse as well.

as said by Mark Zuckerberg, CEO of Meta.

The company also highlighted some outstanding findings from its recent Instagram adoption of AI-led recommendations. The usage of AI recommendations resulted in a surprising 24% increase in time spent on the popular social media site between January and March of this year.

This highlights how AI technology has the ability to improve user experience and engagement on social media sites.

Meta’s advancement in AI development is a key milestone for the IT industry, emphasising the technology’s growing importance in driving innovation and growth.

As Meta continues to lead the way in scaling up AI work, it will be interesting to see how this technology is used to improve user experiences and drive business growth in the future.

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Meta Celebrates AI Success Due To Exceeding Revenue Forecasts

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