10 Important AI Announcements for Investors

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 235

Meta Platforms, Inc. (NASDAQ:META) is focused on developing products that promote global connectivity and communication. The company is making significant investments in AI, applying it to its language models and integrating it into its AR/VR technologies.

Meta (NASDAQ:META) has urged California’s attorney general to block OpenAI’s transition to a for-profit company, as reported by The Wall Street Journal. In a letter, Meta argued that allowing OpenAI to shift its business model could set a troubling precedent, enabling startups to enjoy nonprofit benefits until reaching profitability. Meta warned that this could lead to unfair advantages for investors, who would receive the same financial gains as those in traditional for-profit ventures while also benefiting from tax breaks intended for nonprofits.