Meta Platforms AI Developments

Investments
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This topic will discuss Meta Platforms AI developments.

AI developments have been the core pillar of the Meta Platform Investment Thesis.
See an early description of the investment thesis in the Wiki and earlier in Discord.

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Very interesting new development. Chat Agents/Bots are a significant part of Meta Platforms’ investment thesis as they will play a vital role in monetizing chat applications like Whatsapp and connecting businesses with customers.

Additionally, they can learn from users what they like, offer recommendations, and increase engagement if done well.

It is good to see that the first applications launch sooner than expected at least according to a company insider.

This product could have an influence on my Meta price target and the trajectory of Meta stock and developments of it should be closely followed by us.

Here is the full financial times article

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UBS predicts that Meta will release a new consumer chatbot powered by generative AI in its connect event in September.

It projects that chatbot could add more than $20 billion to Meta’s revenue.

UBS: Meta Platforms seen unveiling AI-powered chatbot at September developer event
Meta Platforms: Artificial Intelligence(AI) - InvestmentWiki

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20billion in additional revenue would be very significant.

While I believe it’s a fool’s errand trying to predict short term market movements with any certainty - ultimately future decisions of fund managers will influence where the price is going to go - my current guess for Meta stock is some consolidation of price right now with further upwards potential after Metas connect event.

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  • Meta releases SeamlessM4T AI model that enables translation between speech and text for up to 100 languages.

  • It also enables speech-to-speech translation for up to 35 languages.

  • The company will make the model available for the public for non-commercial purposes.
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  • Meta introduces an AI model that will assist in writing computer code.
  • The model will be available in different configurations and will support languages such as Python, Java and C++.
  • Meta said that their test on Code Llama found that it’s on par with ChatGPT and better than other open-sourced LLMs including Llama 2.
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  • Meta Platforms is building an AI chatbot that will be as powerful as OpenAI’s GPT-4, that’s according to the Wall Street Journal.
  • The company plans to begin training it in early 2024.
  • According to the Wall Street Journal, Meta is building up its infrastracture by buying more Nvidia H100 AI-training chips in an effort to be free from Microsoft’s Azure cloud as it trains the new AI model.
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  • At Meta Connect 2023, Meta announced AI chatbots such as the EMU, Meta AI and AI Studio.
  • EMU chatbot generates images within 5 seconds while Meta AI is an assistant that helps you answer basic questions.
  • Meta AI, which gives you assess to real-time information, will be integrated to Meta Platforms messaging apps.
  • AI Studio will enable users to build their own custom AI bots that have profiles on Facebook and Instagram.
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A twitter user who has used Meta AI said that it’s pretty good.

The Verge also got a chance to test it, and concluded that it couldn’t slip up into saying bad things.

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  • Barclays projects that AI could boost Meta’s core ad revenue by $16B but could also increase its cost of goods sold by at least $10B.

  • Barclays based the potential on Snap’s doption of MyAi.

    “The service is only seven months old, yet has reached 150m+ users,” they said regarding MyAi.

    “This unique approach might actually resonate with the non-tech-savvy consumers that are on WhatsApp and Instagram every day, and help overcome the barrier that some of the previous AI agent services face in terms of utility,” Barclays said regarding Meta’s AI Agents. “We’d also note that using celebrities faces and fine-tuned expressions was a smart way humanize and differentiate the AI agents from the crowded field.”

https://seekingalpha.com/news/4018685-meta-ai-tipping-point-barclays

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  • Meta Platforms launches two new AI tools for generating and editing videos that can be posted on Facebook and Instagram.
  • Emu Video generates a four-second long video with a prompt of a caption, image or photo, combined with a description.
  • Meanwhile, Emu Edit enables a user to easily edit videos using text prompts.
  • The new tools are advancements of the EMU chatbot launched at this year’s Meta Connect.
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  • Meta launches an AI-image generator called Imagine with Meta that enables users to create high-resolution images from text prompts.
  • The company is also launching a watermarking feature for AI-generated features to ensure transparency and traceability of the images.
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  • Mark Zuckerberg said by the end of 2024, Meta’s computing infrastracture will include 350,000 H100 graphics cards.

    “We’re building massive compute infrastructure to support our future roadmap, including 350k H100s by the end of this year – and overall almost 600k H100s equivalents of compute if you include other GPUs,” he wrote in a Thursday Instagram post.

  • Raymond James analysts estimate NVIDIA is selling the H100 for $25,000 to $30,000; hence Meta’s expenditure on the H100s is around $9 billion -assuming it’s paying the low end of the price range.

  • It’s unknown how many GPUs Meta has already purchased but H100 came to the market in late 2022 but in a limited supply.

  • Meta had said in its latest earnings call that AI will be their largest investment in 2024.

    “In terms of investment priorities, AI will be our biggest investment area in 2024, both in engineering and computer resources,” Zuckerberg said.

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  • Meta plans to release Llama 3 in July which would give better responses to questions posed by users, The Information reported.
  • Meta did not respond to Rueters request for a comment.
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  • Meta plans to use the new Nvidia Blackwell chips in its AI products.

    “We’re looking forward to using Nvidia’s Blackwell to help train our open-source Llama models and build the next generation of Meta AI and consumer products,” Mark Zuckerberg said in a statement.

  • Nvidia said on Monday that its new B200 “Blackwell” chip is 30 times speedier at tasks eg giving answers from chatbots.

  • A Meta executive said they expect the first shipment of the new chips later this year though Nvidia said they expect to ramp-up production in 2025.

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  • Meta has introduced the second-generation of its Meta Training and Inference Accelerator (MTIA) chip which is currently used to power its ranking and recommendation of ads in Facebook and Instragram.
  • The company said the new chip will eventually be used to train its AI models.
  • The new chip possess twice the compute and memory bandwith of the previous version.
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  • Meta said its Meta AI powered by Llama 3 is now available across its apps including Facebook, Instagram, WhatsApp and Messenger and is being launched in more than a dozen countries outside the U.S.

  • The company said image generation is now faster with Meta AI.

    “We’re making image generation faster, so you can create images from text in real-time using Meta AI’s Imagine feature. We’re starting to roll this out today in beta on WhatsApp and the Meta AI web experience in the US,” Meta said in a statement.

  • In a seperate post, Meta said its Llama 3 will soon be available on Google Cloud.

    " Llama 3 models will soon be available on AWS, Databricks, Google Cloud, Hugging Face, Kaggle, IBM WatsonX, Microsoft Azure, NVIDIA NIM, and Snowflake, and with support from hardware platforms offered by AMD, AWS, Dell, Intel, NVIDIA, and Qualcomm."

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First tests on Meta AI look promising. What’s interesting is its ability to access the internet and cite sources. Image generation with Meta AI is also real time and the images produced appear better than those of Gemini.

Looks like it uses information from the first source in Google Search though. It would have been more powerful if it uses original source.

https://twitter.com/apoorv_dialogue/status/1778715724443427007

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