AI Token Rises on Meta’s Strong Financial Results

Meta Platforms reported a positive quarter, with significant sales growth, upward revisions to its earnings forecast, and additional share buybacks of $50 billion (approximately 7.25 trillion yen, equivalent to 145 yen per dollar). Announced annual results. The company’s stock price rose nearly 14% after hours, and artificial intelligence (AI) tokens are also showing an upward trend.
“We had a great quarter as our community and business continued to grow, and we made great progress on our vision of advancing AI and the metaverse,” CEO Mark Zuckerberg said on the conference call. thank you. The company also said it would pay its first dividend.
CoinDesk’s Computing Select Index (CUS), which includes AI tokens such as Render (RNDR) and Fetch AI (FET), is up nearly 10% in the last 24 hours.
(CoinDesk Index)
Bitcoin (BTC) rose just 2% over the same period, according to data from CoinDesk Indicies.
The tokens of the Akash network, RNDR and AKT, are up 4.1% and 5.2% respectively in the last 24 hours. It is the largest AI token by market capitalization.
Meta has lost more than $20 billion since 2021 due to its Metaverse pivot, but Zuckerberg said he remains committed to the idea. Overall, Meta’s Metaverse platform failed to gain market traction, sending its stock price down nearly 60% in 2022.
But since Zuckerberg announced the company’s AI transition about a year ago, the company’s stock price has risen more than 100%.
｜Translator: CoinDesk JAPAN ｜Editor: Toshihiko Inoue ｜Image: Shutterstock ｜Original article: AI token rises after Meta surpasses analyst expectations

window.fbAsyncInit = function()
FB.column(
App ID: ‘592401157873165’,
Cookies: Actually,
xfbml: true,
Version: ‘v3.2’
);
FB.AppEvents.logPageView();
;
(function(d, s, id)
var js, fjs = d.getElementsByTagName(s)(0);
if (d.getElementById(id)) return;
js = d.createElement(s); js.id = ID;
js.src = “https://connect.facebook.net/en_US/sdk.js”;
fjs.parentNode.insertBefore(js, fjs);
(document, ‘script’, ‘facebook-jssdk’));

Post-AI token rises on Meta’s solid financial performance | CoinDesk JAPAN appeared first on Our Bitcoin News.