Open Source · Mark Zuckerberg · Anthropic · Microsoft · OpenAI · Google · CNBC Technology
A year after Meta tapped Alexandr Wang to build a new AI model, Zuckerberg has to sell it
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A year after spending over $14 billion to bring in Alexandr Wang and a group of his top Scale AI engineers to revamp its artificial intelligence efforts, Meta is at least back on the map in AI, though it's still far behind OpenAI, Anthropic and Google in the market.
Key facts
- That Zuckerberg's metaverse and virtual reality ambitions have generated over $80 billion in total losses since late 2020 makes the AI pitch a tougher sell, Yu said
- Meta's stock is down 18% over the past 12 months, the worst performer in the megacap group, along with Microsoft, which has its own challenges in AI
- Andrew Moore, the CEO of enterprise startup Lovelace and former Google Cloud AI chief, said it's not too late for Meta to find a lane
- Meta tech chief Andrew Bosworth, a 20-year company veteran, is a close confidant of Zuckerberg's and someone the CEO could turn to for a bigger role in AI if the newcomers are perceived as failing
Summary
Wang's big accomplishment was the delivery of the Muse Spark AI model in April, marking Meta's first jump into proprietary foundation models and away from a strict adherence to open source, or open weight as it's more commonly called in AI. Now that CEO Mark Zuckerberg has his new model, it's on him to make it a financial success. "Meta needs to provide more proof points of both adoption and commercialization," said Ralph Schackart, an analyst at William Blair who recommends buying the stock. Wall Street, at least so far, is unimpressed.