PRISM Market Pulse: Equities Rally Amid Mixed Big Tech Earnings; Economic Shifts and Sector-Specific Highlights New York, N.Y., April 26, 2024 – PRISM MarketView – Equities were higher through the morning into midday trading as the S&P 500 and Nasdaq are set to snap their three- and four-week losing streaks.
Meta's CEO, Mark Zuckerberg, believes Meta could become the leading AI company in the world. Meta is working on a unified model for AI recommendations across its platforms, which has shown solid improvements in engagement. Meta's AI assistant, Meta AI, is generating images at an incredibly fast rate and there is talk saying it could become the best AI assistant in the world.
Meta announced a $35 billion investment in artificial intelligence (AI) for this year, signaling an aggressive push in the escalating tech arms race. This colossal investment raises pivotal questions about the future of AI development and its financial viability.
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Analysts at Wedbush have slashed their price target for Facebook and Instagram owner Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) as the company enters another multi-year investment cycle for its Metaverse and AI initiatives which will take several years to scale and monetize. “We have revised down our profitability estimates to reflect the increased pace of expense growth and higher cape...
In the wake of Meta Platforms Inc. (NASDAQ: META) recent earnings report, the company finds itself at a pivotal juncture, with both triumphs and challenges shaping its narrative.
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