Benzinga - by Anusuya Lahiri, Benzinga Editor.
Meta Platforms Inc (NASDAQ:META) is considering a paid version of its artificial intelligence-powered assistant, Meta AI.
The Facebook parent proposes to charge users for more advanced features of the assistant, the Information cited from an internal company post.
Meta rivals, including Microsoft Corp (NASDAQ:MSFT), backed by OpenAI and Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, charge $20 monthly for their advanced versions.
Prior reports indicated that Microsoft, Meta, and Alphabet earmarked over $32 billion in AI infrastructure in the first quarter of 2024.
Meta chief Mark Zuckerberg had confirmed its AI ambitions in a recent investor call.
Meta had launched a custom AI chip for data centers to cut dependence on Nvidia Corp (NASDAQ:NVDA). The company touted its ‘Artemis’ chip to save millions in energy costs.
Analysts noted Meta as undervalued, considering the potential from Reels and AI-driven ads. They also flagged Meta’s sizeable capex budget, internal AI supercomputer, in-house LLM, and custom AI chips.
Meta stock gained 87% in the last 12 months. Investors can gain exposure to the stock via IShares Global Comm Services ETF (NYSE:IXP) and Vanguard Communication Services ETF (NYSE:VOX).
Price Action: META shares traded higher by 1.96% at $474.93 at the last check on Friday.
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