Meta Chief Revenue Officer Is Leaving to Form Own Startup

Yann Le Cun, a prominent figure in artificial intelligence and a key player at Meta for over a decade, is leaving the company. His departure follows disagreements with fellow engineers regarding the future of AI technology, particularly large language models like those used in ChatGPT.

Yann LeCun, a prominent figure in artificial intelligence and a key player at Meta, is set to leave the company to launch a new AI startup focused on Advanced Machine Intelligence. His departure follows over a decade of contributions to Meta, where he has been influential in shaping AI research and development.

Meta has achieved a significant victory against the Federal Trade Commission (FTC) in an antitrust case, which may influence investor perceptions of the social media landscape. The ruling suggests that Meta's acquisitions of Instagram and WhatsApp do not constitute monopoly power, allowing the company to maintain its current business structure without the threat of a breakup.

Cantor Fitzgerald has reduced its stock price target for Meta to $720, citing increased cloud costs as a significant factor. This adjustment reflects concerns about the company's financial outlook amidst rising operational expenses.

European markets stabilized on Wednesday morning after experiencing losses due to concerns that AI stocks may be overvalued. Investors are keenly awaiting the latest results from US chipmaker Nvidia, a key player in the AI sector. Additionally, Japanese media reported that China has suspended seafood imports from Japan amid diplomatic tensions. A US judge also ruled that Meta does not hold a monopoly.

Meta has won a significant antitrust case in the US, with a judge ruling that the company does not hold a monopoly in social networking. This ruling comes after a lawsuit from the US Federal Trade Commission, which sought to force Meta to divest Instagram and WhatsApp. The judge's decision allows Meta to retain ownership of these platforms, which are crucial to its business model.

A judge has ruled that Meta does not hold a monopoly following its acquisitions of Instagram and WhatsApp. This decision allows the parent company of Instagram to avoid the potential breakup of its business. The ruling comes after a lawsuit filed by the Federal Trade Commission (FTC) in 2020, which accused Meta of maintaining monopoly power in the market.

Meta has successfully defended itself against an antitrust lawsuit filed by the Federal Trade Commission (FTC), which posed a potential threat to its ownership of WhatsApp and Instagram. The lawsuit aimed to challenge Meta's market practices and its control over these popular social media platforms. The ruling is seen as a significant victory for Meta, allowing the company to maintain its current structure and operations without the risk of being forced to divest its key assets.