Meta Platforms stock jumped after it lifted the lid on its first major artificial intelligence (AI) model from its newly formed ‘superintelligence’ team as the technology giant tries to make up ground lost to competitors in the AI race.
The Meta Platforms (NASDAQ: META) stock price closed US$37.37 (6.50%) higher at $612.42 on Wednesday, capitalising the company that owns Facebook and Instagram at $1.15 trillion (A$1.63 trillion), before hitting $616.00 in after-hours trading.
The Muse Spark model released on Wednesday is the first in a series internally known as ‘Avocado’ and is the product of Meta’s significant AI investment, including paying $14.3 billion for one executive and hiring top engineers with multimillion-dollar pay packages.
Meta did not disclose Muse Spark's size, a key measure typically used to compare an AI system's computing power with rivals, according to Reuters.
It also changed course from previous open releases of its Llama models, instead sharing only a ‘private preview’ of Muse Spark with unnamed partners.
“Over the last nine months, Meta Superintelligence Labs rebuilt our AI stack from the ground up, moving faster than any development cycle we have run before,” Meta said in a blog post.
"This initial model is small and fast by design, yet capable enough to reason through complex questions in science, math, and health. It is a powerful foundation, and the next generation is already in development.”
Muse Spark is designed to be smaller and faster than many competing models, while still capable of handling complex reasoning tasks across areas such as science, mathematics and health.
The company said the model would initially be available through its Meta AI app and website, before being rolled out across its platforms, including Facebook, Instagram, WhatsApp and its smart glasses.
Meta Superintelligence Labs is the AI unit overseen by Scale AI CEO Alex Wang, who joined Meta last year in a $14.3 billion deal.
