Meta Platforms (META) just dropped some big news with the launch of AI Studio. This new tool is all about letting users design, share, and interact with their very own AI chatbots. The AI Studio is rolling out today.
What’s AI Studio All About?
According to Meta, “We’re rolling out AI Studio, a place for people to create, share and discover AIs to chat with – no tech skills required.” Users can create AI characters that handle tasks such as responding to Instagram DMs or providing humorous interactions.
This new tool is built on Meta’s latest AI model, Llama 3.1, which features 405 billion parameters. This model just launched last week and is already putting up a fight against rivals like OpenAI. Meta’s report explains that despite some technical hiccups—like issues with GPUs causing about 30% of interruptions—the AI team managed to keep training time effective at over 90%.
What’s OpenAI Up To?
While Meta is rolling out AI Studio, OpenAI isn’t taking it easy. The company is working on a super-secret project called “Strawberry,” which is intended to demonstrate advanced reasoning capabilities. Reuters mentioned in July that details about “Strawberry” are closely guarded, so it’s clear that OpenAI is gearing up to make some serious headlines.
Looking Ahead
Meta isn’t stopping here. The company aims to beef up its infrastructure to include 350,000 Nvidia H100 GPUs. This will boost their AI capabilities and support more advancements in the future.
Is META a Good Stock to Buy?
Wall Street is widely awaiting Meta’s Fiscal second-quarter results due on July 31. Ahead of the earnings report, 5-star analyst Mark Mahaney has assigned Meta a Buy rating, with an average price target of $550, implying an 18.10% upside potential.
This positive sentiment has been echoed by other analysts as well. On TipRanks, META has a Strong Buy consensus rating based on 24 Buys, two Holds, and two Sells. The average META price target of $550 implies 18.10% upside potential from current levels. META stock has already gained over 46% year-to-date.
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