Facebook may use MetAI as a new name to reflect founder Zuckerberg’s passion for artificial intelligence

News on April 25, just 18 months ago, Mark Zuckerberg, CEO of Facebook’s parent company, bet his future on the virtual world Metaverse , and even changed the company name to Meta. Now some investment bankers are worried that Zuckerberg may be too obsessed with artificial intelligence technology, so much so that one investment bank joked that Zuckerberg would once again change the name of the company to MetAI.

Facebook Chief Technology Officer Andrew Bosworth said earlier this month that Zuckerberg and other executives now spend most of their time working on artificial intelligence. Bosworth is Zuckerberg's main partner in the metaverse, and some analysts were disturbed by his comments.

Analysts at investment bank Bernstein issued a warning to investors just days after Bosworth made his remarks. Analysts quipped in an email, “Keep an eye on Zuckerberg’s newfound penchant for making everything artificially intelligent.” “It looks like the year of productivity is slowly coming to an end, and we suspect he’s now likely to turn the company around.” Name changed to MetAI.”

Meta’s public relations department did not respond to a request for comment.

Investors and analysts are just recovering from Meta's big payout. They now want Meta to maintain a conservative approach to controlling costs, and Meta's previous large-scale layoffs seemed to satisfy their demands.

But if Zuckerberg wants to keep up with OpenAI, Microsoft and Google in the field of artificial intelligence, he will have to pay a high price.

In October last year, Meta’s chief financial officer said that artificial intelligence would be the main driver of “almost all” of the company’s capital expenditure growth in 2023. Meta has since cut back on some of its capital spending plans but has been buying large quantities of Nvidia's chips for training new generative AI models. It is reported that each Nvidia chip sells for about US$10,000.

Artificial intelligence industry executive Emad Mostaque wrote on his personal social media Twitter last Friday that the Meta artificial intelligence research team spent five months using 2048 An A100 NVIDIA chip trains a new language model.

On October 25 last year, Meta stated that it would increase investment in artificial intelligence. Nvidia shares have more than doubled since then, while Meta shares are up about 54%.

Meta will announce its latest quarterly financial report on April 26, local time, and investors will pay close attention to the company’s spending and investment plans.

What is certain is that artificial intelligence will help Meta’s core advertising and social media businesses, and the Metaverse business will see major changes.

Meta Chief Operating Officer Javier Olivan said at a recent conference hosted by Morgan Stanley: "In terms of core business and advertising, how do we generate more relevant advertising? "It depends on machine learning algorithms, that is, artificial intelligence."

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