A New Mexico court ordered Meta, the parent company of Facebook and Instagram, to pay $942 million in fines for creating a "public nuisance" by harming child safety and contributing to the state's teen mental health crisis. The fines include $567 million for an abatement fund aimed at prevention and treatment, plus $375 million in civil penalties. The judge criticized Meta for designing features that optimize engagement but harm teenagers and failing to warn users adequately. Meta plans to appeal, while the state's Attorney General hailed the ruling as a victory for child safety online.
Meta's stock surged 12% following a surge in options trading volume, driven by excitement over its new AI personal assistant, Muse. Options traders bought more than twice as many calls as puts, signaling bullish sentiment, with nearly $3.9 billion in...
Meta Platforms shares surged 12% to $747.91 following early success of its new Muse AI assistant, which topped Apple's US App Store with over 730,000 downloads shortly after launch. Wells Fargo raised Meta's price target to $796, citing strong moment...
Meta's new AI app, Muse, has surpassed ChatGPT in downloads and daily active users during the first twelve days after launch in the US and Canada. According to Appfigures, Muse achieved 1.8 million downloads on iOS compared to ChatGPT's 1.3 million i...
Meta has announced Petal, a new transatlantic subsea cable capable of transmitting data at 1 petabit per second between France and the U.S., expected to be operational by 2029. This cable doubles the capacity of current transoceanic systems without i...
Meta's AI agent Muse, topping the App Store in 10 days, highlights growing demand for CPUs alongside GPUs in AI workloads. Nvidia's new Vera CPU targets this shift, integrating tightly with its AI platforms to capture more server CPU revenue. While I...
