Tag: $Meta

Mark Zuckerberg said on Monday that Meta Platforms would spend hundreds of billions of dollars to build several massive AI data centers for superintelligence, intensifying his pursuit of a technology he has chased with a talent war for top engineers.

Mark Zuckerberg is expected to appear as a star witness in an unusual $8 billion trial that kicks off this week at which the Meta CEO is accused of operating Facebook as an illegal enterprise that allowed users’ data to be harvested without their consent.

Meta Platforms (META.O), may face daily fines if EU regulators decide the changes it has proposed to its pay-or-consent model fail to comply with an antitrust order issued in April, they said on Friday.

 Renewable energy developer Invenergy and social media giant Meta Platforms (META.O), have signed four deals to supply 791 megawatts (MW) more of solar and wind power to operate data centers, the companies said on Thursday.

Mark Zuckerberg, the billionaire CEO of Meta Platforms (META.O), is setting up a team of experts to achieve so-called “artificial general intelligence” (AGI), or machines that can match or surpass human capabilities, Bloomberg News reported on Tuesday.

Meta Platforms (META.O), on Tuesday said it has struck an agreement with Constellation Energy (CEG.O), to keep one of the utility’s reactors in Illinois operating for 20 years, in the Big Tech company’s first such deal with a nuclear power plant.

Meta Platforms (META.O),aims to allow brands to fully create and target advertisements with its artificial intelligence tools by the end of next year, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Meta Platforms stock held steady early Friday after falling late in the previous session following a report that the Facebook parent is delaying the rollout of its new artificial intelligence model.

Meta shares rose as much as 5% Wednesday after the company reported stronger-than-expected revenue in the first quarter and provided second-quarter guidance that was in line with Wall Street’s expectations.

Meta has laid off employees in its Reality Labs division that is tasked with developing virtual reality, augmented reality and related wearable devices.

The European Union on Wednesday fined Apple and Meta hundreds of millions of euros each for breaching the bloc’s digital competition laws.

Facebook parent Meta Platforms (META.O),  faces a high-stakes trial in Washington starting on Monday on claims it built an illegal social media monopoly by spending billions of dollars to acquire Instagram and WhatsApp, in a case where U.S. antitrust enforcers seek to unwind the deals.

Apple and Meta Platforms are facing the likelihood of regulatory fines. However, the blow could be less than feared due the policies of President Donald Trump.

Amazon, Google and Meta have joined a call by big, energy-intensive companies for governments and utilities to build more nuclear power in the latest boost to the industry’s revival.

Facebook owner Meta is testing its first in-house chip for training artificial intelligence systems, a key milestone as it moves to design more of its own custom silicon and reduce reliance on external suppliers like Nvidia two sources told Reuters.

Facebook-parent Meta Platforms reported strong fourth-quarter earnings results Wednesday afternoon. Its post-release gain, however, looked tepid relative to the results.

Meta Platforms Inc. is cutting roughly 5% of its staff through performance-based terminations and plans to hire new people to fill their roles this year, according to an internal memo sent to all employees.

Meta Platforms Inc. offered to publish listings from classified ads rival eBay Inc. on Facebook Marketplace in an effort to comply with a landmark European Union antitrust order that was accompanied by a €798 million ($822 million) fine.

Facebook owner Meta Platforms will face a trial in October 2025 in Spain over a 551 million euro ($582 million)complaint lodged by more than 80 media companies accusing it of unfair competition in advertising, a Madrid court said on Friday.

Meta Platforms reported better-than-expected earnings results on Wednesday but forecast rising infrastructure expenses next year. Its shares fell in after-hours trading.