Meta Platforms (NASDAQ: META) continues to dominate the social media landscape with over 3.2 billion daily users across its platforms, including Facebook, Messenger, WhatsApp, and Instagram. The company's advertising revenue surged 19% in the recent quarter, reaching over $39 billion, while net income increased by 35% to $15 billion.
In 2024, Meta is strategically investing in artificial intelligence (AI), aiming to enhance its offerings beyond social media. The company has developed Llama, a large language model that supports its AI tools, including the newly launched Meta AI assistant, which has attracted 500 million monthly active users.
CEO Mark Zuckerberg expressed ambitions to create AI assistants for all Meta users, enhancing user engagement and potentially driving further advertising revenue. More than 1 million advertisers have utilized Meta's generative AI tools to create 15 million ads in the past month, indicating a growing interest in AI-driven advertising solutions.