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Meta Platforms (META) Launches Llama 2 Model With Microsoft
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Meta Platforms (META - Free Report) recently announced the availability of Llama 2, a large generative AI model that can create text, images and code. It is available for free for research and commercial use on Microsoft’s (MSFT - Free Report) cloud platform Azure, Amazon Web Services, Hugging Face and other platforms.
Meta expanded its long-standing partnership with Microsoft, with the latter as the preferred partner for Llama 2. Users can download its new AI models directly or through Microsoft's cloud platform Azure and Microsoft’s safety and content tools.
In February 2022, Meta introduced Llama 1 as an open-source AI model to help researchers advance their work in generative-AI. Being its successor, Llama 2 is more powerful and versatile, with improved performance and safety features. Developers can use Llama 2 to build generative-AI powered tools and experiences for various domains such as education, entertainment, health and social cause.
Meta and Microsoft seek to provide an open approach to AI development, which benefits companies by enabling innovation, collaboration and transparency. They have been working together for more than a decade on various AI initiatives, such as PyTorch, the partnership on AI and the metaverse.
Dozens of large language models have already been released and are driving progress by developers and researchers. They’re being used by businesses as core ingredients for new generative AI-powered experiences.
Meta is trying to establish itself as a leader in the generative-AI market, but it faces stiff competition from companies like Alphabet (GOOGL - Free Report) and SNAP (SNAP - Free Report) that offer chatbots powered by generative AI tools.
Alphabet’s Google Bard (PaLM 2) and Snap’s SnapML are large generative AI models that can create text, images, code and other media using natural language prompts. They are available for research and commercial use through Google's Cloud AI Platform and Snap's Lens Studio, respectively.
META Leveraging on Generative AI to Aid Prospects
Despite stiff competition, shares of Meta have surged 158.8% year to date compared with the Zacks Internet – Software Industry’s and Zacks Computer and Technology sector’s increase of 60.2% and 42.5% in the same time frame, respectively.
Meta is leveraging on generative AI to enhance products and services and to create new experiences for users and customers. Higher investment in generative AI initiatives will likely drive growth.
In June 2023, Meta launched VoiceBox, a new AI model that leverages generative AI to generate and edit speech in various ways. It learns from the context and performs tasks that it was not trained for.
In April 2023, Meta launched a new generative AI tool called the segment anything model (SAM). Based on the input prompt, the tool allows segmentation of any image without additional training.
In February 2023, Meta announced a new product group that will leverage generative AI for creative tools. Using the technology, Meta is reportedly working on building AI Personas that will enhance user experiences with text, images and video into Messenger and WhatsApp.
Meta Platforms’ innovations in generative AI tools have been promising and are expected to drive the top-line. Significant investments and updates in Facebook, Instagram and WhatsApp is expected to drive its user base in the near term.
The Zacks Consensus Estimate for Meta Platforms' second-quarter 2023 revenues has been pegged at $30.85 billion, indicating a year-over-year growth of 7.02%. Earnings estimates have increased 0.35% to $2.85 per share in the past 30 days.
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Meta Platforms (META) Launches Llama 2 Model With Microsoft
Meta Platforms (META - Free Report) recently announced the availability of Llama 2, a large generative AI model that can create text, images and code. It is available for free for research and commercial use on Microsoft’s (MSFT - Free Report) cloud platform Azure, Amazon Web Services, Hugging Face and other platforms.
Meta expanded its long-standing partnership with Microsoft, with the latter as the preferred partner for Llama 2. Users can download its new AI models directly or through Microsoft's cloud platform Azure and Microsoft’s safety and content tools.
In February 2022, Meta introduced Llama 1 as an open-source AI model to help researchers advance their work in generative-AI. Being its successor, Llama 2 is more powerful and versatile, with improved performance and safety features. Developers can use Llama 2 to build generative-AI powered tools and experiences for various domains such as education, entertainment, health and social cause.
Meta and Microsoft seek to provide an open approach to AI development, which benefits companies by enabling innovation, collaboration and transparency. They have been working together for more than a decade on various AI initiatives, such as PyTorch, the partnership on AI and the metaverse.
Meta Platforms, Inc. Price and Consensus
Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. Quote
Stiff Competition in the Generative-AI Space
Dozens of large language models have already been released and are driving progress by developers and researchers. They’re being used by businesses as core ingredients for new generative AI-powered experiences.
Meta is trying to establish itself as a leader in the generative-AI market, but it faces stiff competition from companies like Alphabet (GOOGL - Free Report) and SNAP (SNAP - Free Report) that offer chatbots powered by generative AI tools.
Alphabet’s Google Bard (PaLM 2) and Snap’s SnapML are large generative AI models that can create text, images, code and other media using natural language prompts. They are available for research and commercial use through Google's Cloud AI Platform and Snap's Lens Studio, respectively.
META Leveraging on Generative AI to Aid Prospects
Despite stiff competition, shares of Meta have surged 158.8% year to date compared with the Zacks Internet – Software Industry’s and Zacks Computer and Technology sector’s increase of 60.2% and 42.5% in the same time frame, respectively.
Meta is leveraging on generative AI to enhance products and services and to create new experiences for users and customers. Higher investment in generative AI initiatives will likely drive growth.
In June 2023, Meta launched VoiceBox, a new AI model that leverages generative AI to generate and edit speech in various ways. It learns from the context and performs tasks that it was not trained for.
In April 2023, Meta launched a new generative AI tool called the segment anything model (SAM). Based on the input prompt, the tool allows segmentation of any image without additional training.
In February 2023, Meta announced a new product group that will leverage generative AI for creative tools. Using the technology, Meta is reportedly working on building AI Personas that will enhance user experiences with text, images and video into Messenger and WhatsApp.
Meta Platforms’ innovations in generative AI tools have been promising and are expected to drive the top-line. Significant investments and updates in Facebook, Instagram and WhatsApp is expected to drive its user base in the near term.
This Zacks Rank #2 (Buy) company expects second-quarter 2023 revenues between $29.5 billion and $32 billion. Foreign currency headwinds are expected to be less than 1% year over year. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Meta Platforms' second-quarter 2023 revenues has been pegged at $30.85 billion, indicating a year-over-year growth of 7.02%. Earnings estimates have increased 0.35% to $2.85 per share in the past 30 days.