Could Meta Platforms benefit from recent OpenAI episode?
A “Threads” user says Meta Platforms Inc (NASDAQ: META) could significantly benefit from the recent OpenAI episode. Shares of the tech behemoth have gained 20% over the past thirty days.
Meta Platforms has its own Llama AI initiatives
Earlier this week, OpenAI reinstated Sam Altman as its Chief Executive following immense pressure not just from the investors but its employees as well.
The artificial intelligence company was also forced to shakeup its board that many believe is primarily a win for Microsoft Corp that has already invested over $13 billion in OpenAI.
According to a “Threads” account named Madman Money, however, it could actually be Meta Platforms Inc with its Llama AI initiatives that comes out victorious from the said ordeal.
My thoughts on Meta’s open source llama strategy pic.twitter.com/1NYDrNx4dv
— Supreme Bagholder (@supremebagholder on Threads) (@SupBagholder) November 18, 2023
Wall Street currently has a consensus “buy” rating on the tech stock.
How might Meta take advantage of OpenAI shakeup?
Events that unfolded at OpenAI in recent days have left customers and corporations questioning if it’s the right approach to put all their eggs in one basket.
Some of them are even switching already to competitors like Cohere or Anthropic to minimise their reliance on GPT. According to Madman Money:
If you’re an AI researcher and you’re going to work at big tech, it might as well be the company with the largest open source and public research presence.
Yann LeCun – the chief of artificial intelligence at Meta responded with a “yup” on that post. The said ordeal could make it easier for the company formerly known as Facebook to attract top AI talent as well.