41
META’s latest artificial intelligence products, including a high-resolution mixed reality headset, not only solidify the tech giant’s position as a leading contender in the AI arms race, but also help boost Instagram’s revenue. It should also lead to next year’s parents. Meta’s AI efforts could become an important aspect of how it monetizes its products and services in the future while bringing more users and customers into AI. During Meta’s Connect virtual AI conference on Wednesday, the company announced the latest version of its mixed reality headset, the Quest 3. An AI-based personal assistant called Meta AI. AI image generation and editing tools. And the latest in Meta and his partnership with EssilorLuxottica is the new edition of his Ray Ban smart glasses. Each development is expected to help mainstream the use of AI across the company’s bundle of social media apps. Meta’s Quest “isn’t as good as Apple’s Vision Pro,” Jim Cramer said Wednesday, but the launch of Meta’s new headset leverages more budget-oriented chips, lenses, and sensors, so likely to have broader appeal. We believe that both Club Holdings’ strategies have merit. While Meta’s headset is priced for mass-market adoption, Apple’s headset is a premium one aimed at users looking for cutting-edge technology, such as a micro-OLED lens with eye tracking. It’s clearly his device. Therefore, the starting price of Apple’s headset is 7 times that of the basic model of Quest 3. Either approach can win in today’s AI consumer market. Meanwhile, Meta’s virtual assistant, Meta AI, is built on the company’s large-scale language model Llama 2, features search capabilities powered by Microsoft (MSFT) Bing, and supports WhatsApp, Messenger, Instagram, Quest, and Now available on Ray-Ban Smart. glasses. Wall Street reacted largely positively, with many analysts praising Wednesday’s announcement. Meta stock rose about 2.3% on Thursday to about $304.44 per share. Meta’s AI assistant is [total addressable market] Similarly, JMP Securities claims that the event “highlights the AI tailwinds in the meta,” which could “unlock additional ad budgets with new chat-based customer services.” did. Conclusion Most of this week’s AI updates should be financially significant for Meta in the short term, as they are likely to enhance the company’s current breadwinner: Meta’s family of apps. The increased data generated by these interactions will enable Meta, an AI chatbot, to drive broader engagement and create better targeted ads. At the same time, enhanced AI-based content creation tools will enhance user engagement across the company’s various platforms. “In the meantime, we expect to see increased adoption of Meta’s Quest 3 hardware. For now, headsets may seem relatively niche, but this type of The product’s potential is becoming increasingly clear and deserves your attention.” Long-term investors. I also like that Meta has chosen to focus on keeping the price of the Quest 3 relatively low, allowing it to expand its customer base for the hardware and compete with Apple’s offerings. [AAPL] Premium headset. The price point should also support the developer’s efforts to build the platform. However, Ray-Ban’s latest version of his glasses is not that important to the company’s short-term finances. But integrating a meta AI assistant into its platform should ultimately make the glasses a more valuable product over time. (Jim Cramer’s charitable trusts are long META, AAPL, MSFT. See here for a complete list of stocks.) As a subscriber to Jim Cramer’s CNBC Investment Club, before Jim makes a trade Receive trading alerts. After Jim sends a trade alert, he waits 45 minutes before buying or selling stocks in a charitable trust’s portfolio. If Jim talks about a stock on his CNBC TV, he will wait 72 hours before executing the trade after issuing a trade alert. The above investment club information is subject to our Terms of Use and Privacy Policy, along with our disclaimer. No fiduciary duties or obligations exist or arise from your receipt of information provided in connection with the Investment Club. No specific results or benefits are guaranteed.
Mark Zuckerberg, founder and CEO of Meta, speaks at the Meta Connect event at Meta Headquarters in Menlo Park, California, on September 27, 2023.
Josh Edelson | AFP | Getty Images
meta(META)’s latest artificial intelligence products (including high-resolution mixed reality headsets) not only solidify the tech giant’s position as a leading contender in the AI arms race, but also boost Instagram’s parent company’s bottom line. This should lead to improvement over next year.
