Meta Escapes Metaverse Predicament: A Potential Dark Horse in the AI Field

Has Meta finally shed the burden of the metaverse?

Meta's recent performance and strategy in the AI field can be summarized as follows:

  1. Strong financial performance
  • Q2 2024 total revenue of $39.07 billion, up 22% year-over-year
  • Net profit of $13.465 billion, up 73% year-over-year
  • Q4 2023 set "strongest ever" financial report, with revenue of $40.111 billion and net profit of $14.017 billion
  • Core advertising business performed excellently, benefiting from AI technology support
  1. Refocusing on AI
  • Announced the formation of a top product team focused on AIGC in February 2023
  • Plans for long-term large-scale investments in AI
  • AI layout includes multiple directions such as large models, AI assistants, and smart glasses
  1. Open-source strategy
  • Llama series of large models remain open-source, with the latest version reaching 405 billion parameters
  • Open-source strategy both wins goodwill and serves as a business strategy
  • Helps individual researchers and small organizations gain access to advanced AI capabilities
  1. Future outlook
  • Will continue large-scale investments in AI
  • Leveraging strong advertising business to fund AI development
  • Market holds optimistic attitude towards Meta's AI prospects

Overall, Meta is striving to catch up in the AI field and is building a positive image through strategies such as open-sourcing. Its strong financial performance provides support for its AI ambitions.