12 AI News and Ratings Investors Probably Missed

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

Number of Hedge Fund Holders: 235

Meta Platforms, Inc. (NASDAQ:META) develops products for global connectivity and focuses on enabling communication and shared experiences across various devices. The company is investing heavily in AI, using NVIDIA GPUs and developing the Llama AI model to improve user and advertiser experiences as it works to monetize AI technology.

On December 4, Reuters reported that Meta (NASDAQ:META) plans to invest $10 billion to build its largest AI data center in Richland Parish, Louisiana. Designed to handle vast data volumes for AI workloads, the facility’s electricity use will be offset with renewable energy in collaboration with Entergy. Construction of the data center is set to begin in December and continue through 2030. Meta is also exploring nuclear power options, seeking up to 4 gigawatts of new capacity by the 2030s to support its AI and sustainability goals.

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