The app was ranking No. 57 on the App Store just before Meta AI's new model launched. Now, it's No. 5 — and rising.

Meta released a new AI model, prompting a wave of fresh bullishness from Wall Street's top equity research desks.

Meta’s most important launch in years may not be its latest Ray-Ban glasses or its AI app. Instead, it could be the new AI model it introduced on Wednesday, hinting at how its billions in AI investments could one day transform its products.

Shares of social network operator Meta Platforms (NASDAQ:META) jumped 2.6% in the afternoon session after the company launched its new “Muse Spark” artificial intelligence model and announced a long-term,

Meta Platforms Inc. said today it’s going to throw an additional $21 billion at the cloud artificial intelligence infrastructure provider CoreWeave Inc. as it strives to keep pace with rival AI developers.

After releasing its first major AI model in a year, Meta now has to figure out how to turn it into a business.

After recent losses in trials related to social-media practices, the tech company began taking down ads on its apps meant to attract eligible plaintiffs.

Meta Platforms Inc. debuted its latest artificial intelligence model Wednesday — its first since Chief Executive Officer Mark Zuckerberg embarked on a multibillion-dollar overhaul of the company’s AI organization to keep pace with rivals.

Late last month, Meta was handed back-to-back defeats in two landmark social media trials, a New Mexico case accusing Meta of endangering children by enabling sexual predators on Instagram and a Los Angeles-based social media addiction case.

CoreWeave said today that it would expand its agreement to sell AI cloud capacity to Meta Platforms by around $21 billion through 2032. The new capacity will include some initial deployments of Nvidia's highly anticipated Vera Rubin platform.