Meta Platforms (META -1.39%), the operator of some of the world’s most popular social media sites, saw its stock take a hit on Friday following news that the launch of its flagship artificial intelligence (AI) model has been delayed. The company’s shares dropped by 0.6% on the day, while the S&P 500 index rose by a similar percentage.
The Delay
Towards the end of Thursday’s trading session, The Wall Street Journal reported that Meta is pushing back the launch of its AI model, code-named ‘Behemoth.’ According to people familiar with the matter, company engineers are struggling to enhance the model’s functionalities. Originally slated for April, the launch was postponed to June, and now it’s expected to be introduced in the fall or possibly later.
Meta’s AI Ambitions
Meta has grand plans for AI, which could significantly enhance various aspects of its social media platforms. Company founder and CEO Mark Zuckerberg has expressed his enthusiasm about AI’s potential, even speculating that users could eventually interact with AI friends and therapists. Meta has yet to officially comment on the Journal’s report.
A Prudent Decision?
As a former Meta investor, I wouldn’t be too concerned about this development. For a powerful technology like AI, it’s more crucial to get it right than to rush its introduction. Moreover, AI isn’t a make-or-break factor for Meta, as the company continues to thrive with its unbeatable social media portfolio.
