Everyone thinks they know what Meta Platforms (META 2.54%) and Tesla (TSLA -0.31%) are -- a social media company and an electric vehicle (EV) maker. But what if I told you that's like calling Amazon a bookstore? The real story is far more intriguing, and it's unfolding right now.Here's why these two tech giants deserve a permanent spot in your portfolio. The stealth transformation into an AI powerhouseMark Zuckerberg is spending money like a man possessed. The Facebook founder just dropped $14.3 billion to ...

In its latest multi-billion-dollar move, Meta Platforms NASDAQ: META has made a big investment in data-labeling company Scale AI. The tech giant will invest over $14 billion in Scale and gain a 49% stake in the company. So, what does Scale AI do, and why has Meta decided to make this deal? Is it a smart decision, and what does it say overall about Meta’s AI priorities?Get Meta Platforms alerts:Scale AI: Infusing Human Understanding into AI Meta Platforms TodayMETAMeta Platforms$695.77 -1.46 (-0.21%) 52-Wee ...

In Brief Meta is dividing its AI department into two new teams, according to a report from Axios. Now the company’s AI personnel will be assigned to an AI products team, or an AGI Foundations unit. No jobs appear to have been cut.The AI products team will focus on consumer-facing efforts like the AI features within Facebook, Instagram, and WhatsApp, as well as Meta’s new stand-alone AI app. The AGI Foundations unit will focus on more of the bigger picture efforts, like improving its Llama models.As compani ...

On Tuesday, Meta held its first-ever AI developer conference, LlamaCon, at its Menlo Park, California headquarters. The company announced the launch of a consumer-facing Meta AI chatbot app, which will compete with ChatGPT, as well as a developer-facing API for accessing Llama models in the cloud. Both releases aim to expand adoption of the company's open Llama AI models, but that goal may be secondary to Meta's true motive: beating OpenAI. Meta's AI ambition, in broad strokes, is fueling a thriving open AI ...