Meta Platforms (META) Launches New AI Engineering Team

Meta Platforms (META) has established a new artificial intelligence (AI) engineering team within its Reality Labs division.

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The new team has been tasked with supporting the company’s superintelligence initiatives, according to an internal company memo that was leaked to the media. The new AI engineering team will operate under the leadership of Maher Saba within the Reality Labs division.

Reality Labs oversees Meta’s metaverse and AI smart glasses projects. The Reality Labs unit reports to Meta Chief Technology Officer (CTO) Andrew Bosworth. According to the internal memo, the engineering team has been designed a flat structure, with up to 50 employees reporting to one manager.

Meta’s Reality Labs unit develops the Quest family of virtual reality headsets and Ray-Ban AI smart glasses.

**Meta’s Previous AI Engineers **

Meta Platforms gutted it previous AI engineering team at the end of last year as it made significant cuts to its spending on the metaverse and the Reality Labs unit. Meta reportedly cut its metaverse budget by as much as 30%, leading to mass layoffs to its former AI engineering team.

Meta CEO Mark Zuckerberg also reportedly wanted to rethink the company’s AI team and how it was approaching the development of AI technologies. Since 2020, Meta’s Reality Labs unit has lost a more than $70 billion, according to the company’s financial statements.

Is META Stock a Buy?

The stock of Meta Platforms has a consensus Strong Buy rating among 43 Wall Street analysts. That rating is based on 39 Buy and four Hold recommendations issued in the last three months. The average META price target of $864.62 implies 31.99% upside from current levels.

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