We recently published a list of 10 AI Stocks Taking Wall Street by Storm. In this article, we are going to take a look at where Meta Platforms, Inc. (NASDAQ:META) stands against other AI stocks taking Wall Street by storm.
The race to gain a competitive edge in the generative artificial intelligence industry fiercely continues, and Anthropic is the latest one making a move. On Monday, the artificial intelligence startup announced the launch of its advanced AI model, Claude 3.7 Sonnet, stating that it is its “most intelligent” version yet. This model can produce faster responses or display its step-by-step reasoning process, as reported by Reuters.
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Anthropic’s hybrid model combines multiple reasoning approaches to solve complex problems more effectively. It was launched amid fierce competition in the world of AI. According to the company, the Claude 3.7 Sonnet model is its most advanced version and will be available on all Claude plans, including Free, Pro, Team, and Enterprise. However, it noted that the “extended thinking mode” feature is only available on paid plans.
“This model has all the capabilities wrapped together — we want one coherent AI that can help with everything. There’s an advantage in simplicity for our customers.”
-Anthropic co-founder and science chief Jared Kaplan told CNBC in an interview.
Kaplan further stated that the “hybrid” model, going live immediately, operates like a human brain. While some questions require quick responses, many others require critical thinking, which is why the company is looking to integrate both. Elaborating on the extended thinking mode, the company said that it is a model that “self-reflects before answering,” thereby improving its performance in math, physics, instruction-following, coding, and many other tasks. Notably, the company said that this model has been specifically designed to focus on “real-world” tasks instead of math and computer science problems. This is so that it can reflect how businesses use large-language models.
According to analysts, Anthropic’s move can grant it an edge against OpenAI and other tech companies investing in AI technologies.
For this article, we selected AI stocks by going through news articles, stock analysis, and press releases. These stocks are also popular among hedge funds. The hedge fund data is as of Q4 2024.
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A team of developers working in unison to create the company’s messaging application.
Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Investors: 262
Meta Platforms, Inc. (NASDAQ:META) is a global technology company. On February 24, the company announced that it has officially launched Meta AI in the Middle East and North Africa with Arabic capabilities. The launch will allow millions of users across the region to have unlimited free access to some of the most advanced AI assistants located in apps like Facebook, Instagram, WhatsApp, and Messenger. Meta AI, a tool that helps people all over the world learn, create, and engage with things, is completely free and works on any device running the latest version of the company’s apps.
“With this new chapter in our expansion, millions of users across the region now have unlimited free access to one of the world’s most advanced AI assistants conveniently located in the apps you know and love”
-Meta
Overall, Meta Platforms, Inc. (NASDAQ:META) ranks 2nd on our list of AI stocks taking Wall Street by storm. While we acknowledge the potential of META as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than META but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.
