Meta Platforms Rises on Release of New AI Model

By Elias Schisgall

Shares of Meta Platforms gained after the company announced a new large language artificial-intelligence model.

The stock was up 6.6%, at $613.05, midday Wednesday, but has fallen about 7.1% year-to-date.

The model, Muse Spark, is the first of an upcoming family of models developed by Meta Superintelligence Labs, the company said in a Wednesday blog post. Meta has poured billions of dollars to hire AI talent in a push to catch up to frontier AI labs such as OpenAI, Anthropic, and Google DeepMind, according to The Wall Street Journal.

"Muse Spark is the first step on our scaling ladder and the first product of a ground-up overhaul of our AI efforts," Meta said.

The company said it is opening a private application programming interface preview to certain users. Meta may open-source some versions of the model, but doesn't have plans to widely release its API, the Journal reported.

The model outscored Google Gemini on some internal tests and was competitive with OpenAI and Anthropic models on others, while significantly beating xAI's Grok on many benchmarks, Meta said.

Write to Elias Schisgall at [e-mail]

(END) Dow Jones Newswires

04-08-26 1248ET