Meta's New AI Model Llama 3 Challenges OpenAI's Dominance and Reshapes AI Landscape

How Meta's Game-Changing AI Model Could Enhance Developer Freedom, Propel Privacy Standards, And Surge Stock Performance - Meta Platforms (NASDAQ:META)

Meta has introduced its new AI model, Llama 3.1 405B Unlike other proprietary AI systems, Llama 3.1 405B is freely available to the public. Meta's stock started the year strong, climbing 38%. Meta Platforms Inc META has unveiled its latest AI innovation, Llama 3.1 405B, marking a significant step towards making artificial intelligence technologies more accessible. This new model is freely available to the public, unlike other proprietary AI systems that often require payment or are limited to specific corporate uses. By releasing Llama 3.1 405B as open-source, Meta allows developers worldwide to access and customize the AI without financial barriers or corporate restrictions. The model is versatile and can easily integrate into various operational environments. Users can fine-tune the model independently, ensuring sensitive data remains private. This approach demonstrates Meta's commitment to user privacy and customization freedom, empowering developers to innovate independently. Strategically, the release of Llama 3.1 405B highlights Meta's support for open-source AI as essential for fair technological progress. By promoting an open development ecosystem, Meta aims for a future where AI tools boost productivity, foster creativity, and improve quality of life. This initiative aligns with CEO Mark Zuckerberg's vision of using open-source AI to drive societal and economic growth. Looking at Meta's financial journey, the company's stock in 2024 started strong, with a 38% increase by February. While the growth has slowed since, the stock still gained another 10% by July. Recently, however, there's been a slight decline of over 9% from the July high. As the stock hovers around $500, a significant psychological barrier, breaking through this level could indicate a bullish future for Meta, potentially pushing the stock to new record highs. After the closing bell on Tuesday, July 23, the stock closed at $488.69, trading up by 0.26%. This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy. Market News and Data brought to you by Benzinga APIs

Mark Zuckerberg Takes Aim At Elon Musk, Sam Altman With Big AI Aspirations Through Meta's Latest Llama Model - Alphabet (NASDAQ:GOOG), Alphabet (NASDAQ:GOOGL)

Meta releases a new model of Llama on Tuesday, with improved features for users that rival OpenAI's ChatGPT Meta Platforms Inc META founder and CEO Mark Zuckerberg decided in 2021 to invest billions of dollars into the metaverse and change the company's name from Facebook to Meta, aiming to dominate the augmented reality space. Zuckerberg now set his sights on a different technological, futuristic landscape: artificial intelligence. Since OpenAI, led by Sam Altman, released ChatGPT in late 2022, Wall Street has been enamored with AI and its potential to reshape various industries. So far, the clear winners have been chipmakers behind the hardware necessary to run AI programs, such as NVIDIA Corp NVDA, Super Micro Computer Inc SMCI, as well as other chip names. But, soon after ChatGPT became the fastest website to garner one million users, mega-cap tech companies like Google's parent company Alphabet Inc GOOGGOOGL announced their own ambitious AI plans. The "AI arms race" has even brought in Tesla Inc TSLA CEO Elon Musk, a co-founder of OpenAI but who now operates xAI which just launched a supercomputer in Memphis using NVIDIA's chips. See Also: Elon Musk's xAI Flips The Switch On 100K Nvidia H100 GPUs Worth Up To $4B In Memphis Supercluster: 'Most Powerful AI Training Cluster In The World' Zuckerberg plans to take on Alphabet, OpenAI, xAI and any other AI company through Meta's "Llama" software. Llama's latest release, which debuted Tuesday, can solve complex math problems, write a book of text in a few moments and can even conjure images and scenes for users. Llama's software is used to power "Meta AI" a chatbot currently available to users throughout Meta's suite of applications, including Facebook, Instagram and WhatsApp. And while a downturn in the tech industry caused Meta Platforms to undergo layoffs and cost-cutting measures in 2022, Zuckerberg says the company is now ready to deploy billions of dollars in training and developing its AI technology. "I think that there's a meaningful chance that a lot of the companies are over-building now, and that you'll look back and you're like, 'oh, we maybe all spent some number of billions of dollars more than we had to,'" Zuckerberg said in a recent Bloomberg interview. "On the flip side, I actually think all the companies that are investing are making a rational decision, because the downside of being behind is that you're out of position for like the most important technology for the next 10 to 15 years." Zuckerberg also spoke about how Meta is training its Llama model, which entails utilizing user posts from Instagram and Facebook. The CEO also mentioned the importance of American tech companies innovating together on AI, or potentially allowing countries such as China to catch up with more advanced technology. Read Also: * Nvidia's Potential $50 Trillion Valuation, Tesla And xAI's AI Expansion Plans, And Microsoft's Trillion-Dollar Tech: This Week In Artificial Intelligence Photo: Shutterstock Market News and Data brought to you by Benzinga APIs

Is OpenAI Dominance Under Threat With New Meta Llama Model?

The capabilities of the new product is considered a threat to OpenAI Tech giant Meta Platforms Inc. has announced the launch of the latest version of its Llama AI model, Llama 3.1. This is a tool that may threaten the dominance of OpenAI's products. On Tuesday, the Facebook parent company announced the debut of this new Llama technology that comes in three different versions. One of its variants is the biggest and most capable AI model from Meta to date. This latest model is open-source like other previous Llama models. The Llama 3.1 follows an earlier iteration dubbed Llama 3. Llama 3.1 reflects Meta's commitment and massive investment in AI spending. This product is conveniently competing with other industry big names like OpenAI, Google, and Anthropic. It also underscores the progression of Meta's business relationship with chip manufacturer Nvidia. Noteworthy, Nvidia is a key partner of Meta, providing the social network with its GPU computing chips. These are used to help train Meta's AI models, including the latest version of Llama. Unlike OpenAI which is now profit oriented from the sales of access to its proprietary LLMs, Meta has no such interest. At least, for now. All it plans to do is partner with a couple of tech companies that will get their customers to use Llama 3.1. Also, these firms should be willing to come up with security and management tools that work with the new Meta AI software. So far, the firm has alliance with Amazon Web Services, Google Cloud, Microsoft Azure, Databricks and Dell. With this kind of business model, Meta may well be on its way to draw some of the market share of OpenAI. In the long run, many sees Meta toppling the Sam Altman-led company. In the meantime, OpenAI is pursuing the launch of more models to improve its ecosystem. One of its recent products is GPT-4o Mini, a streamlined and more accessible version of its state-of-the-art AI model. It was introduced this month and according to Altman, it is designed to work in harmony with other platforms while being more effective and efficient. Much emphasis is placed on its "omni" capabilities across multiple formats. OpenAI touted the new model as the most capable and affordable small model on the market. However, this was before Meta came up with its Llama 3.1 model.

What's Going On With Meta Stock? - Meta Platforms (NASDAQ:META)

Meta Platforms, Inc. META shares are trading lower Wednesday as the broader market pulls back. The Details: The Nasdaq Composite is trading lower by nearly 400 points Wednesday following disappointing earnings from Tesla and Alphabet on Tuesday. Investors may be considering whether the mega cap tech stocks, including Meta, can continue to support a large percentage of the overall market's growth. Read Next: What's Going On With Carnival Stock? What Else: Meta announced the launch of its latest version of its "Llama" AI software on Tuesday which the company touts as the first openly available model that rivals top AI models in general knowledge, steerability, math, tool use and multilingual translation. Llama's software is used to power "Meta AI" a chatbot currently available to users throughout Meta's suite of applications, including Facebook, Instagram and WhatsApp. In connection with Meta's latest Llama release, NVIDIA Corp NVDA announced a new AI foundry and NIM inference microservices for the collection of openly available AI models. "The new Llama 3.1 models are a super-important step for open source AI. With NVIDIA AI Foundry, companies can easily create and customize the state-of-the-art AI services people want and deploy them with NVIDIA NIM. I'm excited to get this in people's hands," said Mark Zuckerberg, founder and CEO of Meta. META Stock Prediction 2024: Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory. Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Meta Platforms, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Meta Platforms, the 200-day moving average sits at $428.25, according to Benzinga Pro, which is below the current price of $471.94. For more on charts and trend lines, see a description here. Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable. META Price Action: According to Benzinga Pro, Meta Platforms shares are down 5.45% at $462.06 at the time of publication Wednesday. Read Also: Texas Instruments Stock Climbs On Q2 Results, Strong Forward Guidance Image: Shutterstock Market News and Data brought to you by Benzinga APIs