Meta Platforms Is Quietly Becoming One of the Market's Best AI Stocks to Buy. Here Are 3 Reasons Why.
The social media giant's latest results show AI is already strengthening its core advertising business.
Meta Platforms Is Quietly Becoming One of the Market's Best AI Stocks to Buy. Here Are 3 Reasons Why.
Overview
When investors think of the biggest winners of the artificial intelligence (AI) boom, Meta Platforms (NASDAQ: META) probably doesn't usually come to mind. Not only has the stock suffered this year, with shares falling nearly 10% year to date, but the company is still thought of first as a social media company that sells ads, while the AI label goes to chipmakers and the biggest cloud computing providers.
Yet the irony is that AI may already be doing more for Meta's business than for almost any other company.
Details
Meta's first-quarter revenue, helped by AI, rose 33% year over year to $56.3 billion -- an acceleration from about 24% growth just one quarter earlier.
Source
Originally published at www.fool.com.
