Meta's AI Chatbot Nears 600 Million Monthly Users
Meta Platforms' AI assistant has reached nearly 600 million monthly active users just 14 months after its launch by the Facebook parent company, as announced by Chief Executive Mark Zuckerberg. The company's stock experienced an increase in Friday trading, coinciding with a federal court ruling upholding a law that could potentially impact Meta's competitor, TikTok.
Meta.AI Chatbot Update
Zuckerberg shared the milestone of the Meta.ai chatbot's user base on the Meta-owned Threads platform. Additionally, Meta introduced an update to its Llama 3 large language model as part of the announcement.
The Meta.AI chatbot was unveiled during the annual Connect conference in September 2023. In April, a standalone website for Meta.ai was launched. Similar to OpenAI's ChatGPT, Meta's chatbot is capable of generating diverse responses and media based on user input.
Future Developments
Zuckerberg also mentioned that a more substantial update, Llama 4, is set to be released next year, further enhancing Meta's AI capabilities.
Stock Market Performance
On the stock market today, Meta's stock showed positive movement, with a more than 2% increase reaching 622.16 during late afternoon trading sessions. This positive performance aligns with Zuckerberg's previous statement during Connect 2024 that Meta.ai was nearing 500 million monthly active users.
Comparison with ChatGPT
Despite Meta's progress, ChatGPT by OpenAI continues to have a higher user base. OpenAI's CEO, Sam Altman, revealed at the New York Times DealBook Summit that ChatGPT boasts 300 million weekly active users.
Market Insights
Meta's stock achieved a record high for the fourth consecutive trading day, sparked by the news of a federal appeals court upholding a law that could impact TikTok. The company's shares exhibited a breakout from a flat base chart pattern, with a 3.5% increase on Tuesday, maintaining a 5% buy zone.
Year-to-date, Meta has seen a 76% gain in its stock value. The company's stock received a remarkable 98 out of a perfect 99 IBD Composite Rating according to IBD Stock Checkup, positioning Meta as the highest-rated stock among the 69 internet content group members tracked by IBD.
