By Webb Wright

Plus, Microsoft and Apple scale down the size of their AI systems – but not their AI ambitions – with new small language models.

Meta shares drop following plans to continue to ‘invest agressively’ in AI

Meta reported its earnings for the first quarter of 2024 on Wednesday, exceeding analyst expectations with $36.5bn in revenue.

Investors got spooked, however, by Meta’s plans to push more money into AI R&D – an area which Meta has been expanding into rapidly but which is not yet profitable for the company. According to CNBC, the tech giant’s stock fell by 10% on Thursday, marking its Read full story ›

Source: The Drum