Meta Platforms revenue for Q1 was $42.3 billion, up 16 percent year-over-year and besting Wall Street estimates of $41.3 billion. Profits were up 35 percent to $16.6 billion, hurtling past analyst estimates of $13.6 billion. Advertising, up nearly 15 percent for the quarter compared to last year, comfortably passed $41 billion, driving the revenue performance. Meta began Q2 by launching its anticipated standalone Meta AI app. Built with natively multimodal Llama 4 models, the company is positioning the Meta AI app as “a personal AI designed around voice conversations,” according to CEO Mark Zuckerberg. Continue reading Meta Touts 35 Percent Q1 Profit Jump, ‘Personalized’ AI App

After testing advertising in select markets, Meta Platforms is now offering ads on Instagram’s Threads globally to all eligible advertisers, providing access to the more than 320 million monthly active users the social platform has accrued since launching in July 2023. The Threads feed ad placement will be set on by default for new campaigns using either Advantage+ or Manual Placements unless an advertiser toggles to opt out. Global Threads advertisers will also have access to the platform’s inventory filter, which provides increased control over the distribution of ads. Continue reading Meta Opens Threads Advertising Globally to Eligible Accounts

Utah has become the first state to make app stores responsible for verifying users’ ages. The Utah App Store Accountability Act shifts the burden of proving one’s age from social platforms like Snapchat, Instagram and X to digital storefronts, namely Google Play and Apple’s App Store. Those who create accounts in the state will have to prove they’re over 18 or, if underage, link their account to a parent or guardian’s. Utah Governor Spencer Cox signed the bill into law on Wednesday and it begins taking effect May 7. Google opposed the legislation and lobbied the governor to veto it. Meta, X and Snap applauded the measure and are encouraging other states to follow suit. Continue reading Utah Law Is First in Nation Making App Stores Verify User Age

A standalone Meta AI app is in the works for Q2, according to sources familiar with the company’s plans. The move is aligned with Meta Platforms CEO Mark Zuckerberg’s stated intent to propel his company to the forefront of artificial intelligence by year’s end, vaulting ahead of competitors such as OpenAI, Alphabet, Anthropic and xAI. “This is going to be the year when a highly intelligent and personalized AI assistant reaches more than 1 billion people, and I expect Meta AI to be that leading AI assistant,” Zuckerberg said in January during a Q4 earnings call with analysts. Continue reading Meta Plans Its Own Standalone AI App to Take On ChatGPT

Meta has begun testing ads on Threads in the U.S. and Japan with a select group of invited brands. The initial image ads will be slotted between pieces of content in the Threads home feed and will be visible to only a small percentage of users. Drawing from Meta’s existing ads systems framework, “the familiar visual feed format will enable advertisers to easily extend existing image ads to Threads with the check of a box,” according to Meta. Emulating Google, the company will provide users with controls to skip or hide ads. Threads advertisers will be afforded control using the Inventory Filter tool Meta has implemented for Facebook and Instagram Feed and Reels. Continue reading Threads Testing Ads with Select Advertisers in U.S. and Japan

Meta is changing its content moderation policies, eliminating third-party fact checking in lieu of a “community notes” model that will be phased in over the coming months, starting in the U.S. The changes were outlined by Joel Kaplan, the company’s new chief global affairs officer, who was promoted following the recent resignation of Nick Clegg, who managed Meta’s public image since 2018 and set up its oversight board. Kaplan says the policy shift “will allow more speech by lifting restrictions on some topics that are part of mainstream discourse and focusing our enforcement on illegal and high-severity violations.” Continue reading Meta Platforms Replaces Fact Checking with Community Notes

CTA President Kinsey Fabrizio introduced X Corp. CEO Linda Yaccarino and journalist Catherine Herridge for a CES keynote conversation on the social media company established by Elon Musk in 2023. Herridge skipped the pleasantries and went straight to the news that Meta was abandoning third-party fact checking, and replacing it with Community Notes, adopting X’s policy on the topic. “Mark [Zuckerberg], Meta, welcome to the party,” said Yaccarino. “How exciting when you think Community Notes are good for the world. It couldn’t be more validating that Mark and Meta realize this.” Continue reading CES: X Corp. Chief Exec Linda Yaccarino Talks Social Media

Meta Platforms revenue was up 19 percent to $40.6 billion in Q3 compared to the same period one year earlier. Profit rose to $15.7 billion — a 35 percent increase from 2023. The company believes that its years of investments in adtech, artificial intelligence and the metaverse are starting to pay off. In Q3, Meta reported $23.2 billion in expenses and capital expenditures of $9.2 billion. And the company isn’t taking its foot off the accelerator, having increased its annual spending forecast by $1 billion to a minimum of $38 billion. Additionally, Meta’s advertising revenue for Q3 was just a tick under its high-end spend projection of $40 billion. Continue reading Meta’s Investments in Adtech, AI, the Metaverse Yield Results

Meta Platforms has unveiled Movie Gen, a new family of AI models that generates video and audio content. Coming to Instagram next year, Movie Gen also allows a high degree of editing and effects customization using text prompts. Meta CEO Mark Zuckerberg demonstrated its abilities last week in an example shared on his Instagram account, where he sends a leg press machine at the gym through transformations as a steam punk machine and one made of molten gold. The models have been trained on a combination of licensed and publicly available datasets. Continue reading Meta’s Movie Gen Model is a Powerful Content Creation Tool

Meta’s Llama 3.2 release includes two new multimodal LLMs, one with 11 billion parameters and one with 90 billion — considered small- and medium-sized — and two lightweight, text-only models (1B and 3B) that fit onto edge and mobile devices. Included are pre-trained and instruction-tuned versions. In addition to text, the multimodal models can interpret images, supporting apps that require visual understanding. Meta says the models are free and open source. Alongside them, the company is releasing “the first official Llama Stack distributions,” enabling “turnkey deployment” with integrated safety. Continue reading Meta Unveils New Open-Source Multimodal Model Llama 3.2

Meta Platforms CEO Mark Zuckerberg and Spotify CEO Daniel Ek have joined forces to express displeasure with the European Union’s regulations on artificial intelligence, claiming they are suppressing innovation. That is the opposite of the stated goals of EU lawmakers in passing the regulations. In a joint statement first published in The Economist and then on the Meta and Spotify websites Friday, the duo took aim at alleged EU obstruction to the development of open source AI, suggesting that Europe’s “fragmented regulatory structure, riddled with inconsistent implementation, is hampering innovation and holding back developers.” Continue reading Meta, Spotify Issue Statement Criticizing EU’s AI Regulations

Facebook parent Meta announced better-than-expected earnings for Q2 last week, surpassing Wall Street estimates for revenue and profit. The company plans to continue spending heavily on artificial intelligence and virtual reality, despite significant losses in its AR/VR and metaverse businesses. Meta reported a revenue increase of 22 percent from $32 billion for the same quarter last year, representing four straight quarters of growth exceeding 20 percent. The company noted that net income jumped 73 percent to $13.47 billion. Advertising revenue, largely from Facebook and Instagram, was up 22 percent year-over-year. Continue reading Meta Reports Q2 Digital Ad Growth, Will Continue AI Spending

After 50 years of SIGGRAPH, the conference has come full circle, from high-tech for PhDs to AI for everyone. That was Nvidia founder and CEO Jensen Huang’s message in back-to-back keynote sessions, including a Q&A with Meta CEO Mark Zuckerberg. Huang touted Universal Scene Description (OpenUSD), discussing developments aiming to speed adoption of the universal 3D data interchange framework for use in everything from robotics to the creation of “highly accurate virtual worlds for the next evolution of AI.” As Zuckerberg’s interlocutor, he prompted the Facebook founder to share a vision of AI’s personalization of social media. Continue reading Nvidia Debuts New Products to Accelerate Adoption of GenAI

Meta Platforms CEO Mark Zuckerberg unveiled the latest version of computer vision platform SAM 2, an update on the company’s Segment Anything Model that automates for video what the original SAM did for still images — identifying the edges of an object and isolating it in the frame. Zuckerberg demonstrated SAM 2 as part of a SIGGRAPH 2024 keynote session in which he was interviewed by Nvidia CEO Jensen Huang. “Being able to do this in video and have it be zero shot and tell it what you want, it’s pretty cool,” Zuckerberg said. Meta is sharing the code and model weights for SAM 2 with a permissive Apache 2.0 license. Continue reading Mark Zuckerberg Unveils SAM 2 AI Tech for Segmenting Video

In April, Meta Platforms revealed that it was working on an open-source AI model that performed as well as proprietary models from top AI companies such as OpenAI and Anthropic. Now, Meta CEO Mark Zuckerberg says that model has arrived in the form of Llama 3.1 405B, “the first frontier-level open-source AI model.” The company is also releasing “new and improved” Llama 3.1 70B and 8B models. In addition to general cost and performance benefits, the fact that the Llama 3.1 405B model is open source “will make it the best choice for fine-tuning and distilling smaller models,” according to Meta. Continue reading Meta Calls New Llama the First Open-Source Frontier Model