Meta Platforms, Inc (NASDAQ:META) artificial intelligence assistant now has one billion monthly active users, CEO Mark Zuckerberg said Wednesday at the company’s annual shareholder meeting.
Zuckerberg emphasized focus on making Meta AI the leading personal AI, emphasizing personalization, voice conversations, and entertainment, CNBC reported on Wednesday.
In April, Meta launched a stand-alone AI app to compete with the likes of OpenAI’s ChatGPT, Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google’s Gemini, and xAI’s Grok.
Also Read: Meta Offers AI Startups Free Tools, Funding To Boost Llama Model Adoption
Meta aimed to keep growing the product before building a business around it, Zuckerberg said Wednesday. Zuckerberg highlighted opportunities to either insert paid recommendations or offer a subscription service.
Meta had reportedly split its AI division into an AI products team, led by Connor Hayes, and an AGI Foundations unit, co-headed by Ahmad Al-Dahle and Amir Frenkel.
The AI Products team will concentrate on Meta’s AI assistant, AI Studio, and AI functionalities across Facebook, Instagram, and WhatsApp. Meanwhile, the AGI Foundations unit will be responsible for a range of technologies, including the company’s Llama models and initiatives to advance reasoning, multimedia, and voice capabilities.
Meta projected that its generative AI products could potentially generate revenue of $460 billion to $1.4 trillion by 2035.
Meta Stock Prediction For 2025
Equity research can be a valuable source of information for learning about a company’s fundamentals. Analysts create financial models based on the fundamentals and expected future earnings of a company to arrive at a price target and recommendation for the stock.
Shares of Meta Platforms (NASDAQ:META) have an average 1-year price target of $686.27, representing an expected upside of 6.55%.
Because of differences in assumptions, analysts can arrive at very different price targets and recommendations. No analysts have bearish recommendations on Meta Platforms, while 43 analysts have bullish ratings. The street high price target from Rosenblatt is $918.0, while the street low from Scotiabank is $525.0.
Price Action: META stock is up 0.05% at $643.79 at last check Thursday.
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This article Meta Hits 1 Billion Monthly AI Users, Eyes Future With Subscriptions originally appeared on Benzinga.com
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