XLC - Time To Cash Out? Analyst Recommends Tapping Into Meta As Prime Funding Source | Benzinga
Needham analyst Laura Martin reiterated an Underperform rating on the shares of Meta Platforms Inc (NASDAQ:META). Needham’s Underperform rating closely corresponds to the “Sell” recommendation required by the FINRA.
The analyst has put forth insights from conversations with former META employees as well as a social media ad agency CEO.
The analyst has found out that generative AI already influence around 20% of Meta’s content generation and monetization efforts and is driving advertising capabilities including the Advantage+ product.
Over the next 2-3 years, the analyst expects Meta to grow its GPU investments as it integrates generative AI across its entire monetization stack.
The analyst notes Meta will buy >150,000 GPUs from NVIDIA Corporation (NASDAQ:NVDA) in 2024, with extra GPUs purchased to handle search and AI workflows, each accounting ...