Does Meta Platforms' Massive $14.3 Billion Artificial Intelligence (AI) Bet Make the Stock a Buy Now?
Meta is spending big on Scale AI, but it's looking for more than the business.
Meta Platforms (NASDAQ: META) is shaking up its artificial intelligence (AI) efforts and the industry as a whole. Earlier this month, it invested a total of $14.3 billion in Scale AI to take a 49% non-voting stake in the company and bring key personnel into Meta's laboratories. Despite the significant changes this brings to Meta and the industry, it's not what makes the stock a buy today.
Artificial intelligence is extremely important to the future of Meta Platforms, and the potential impact of the technology still seems to be underappreciated by the market. Meta's stock price is attractive, and it would be a buy whether it made the move to invest in Scale AI or not.
Image source: Getty Images.
