Meta Shares Hit Record High on AI Hiring Spree

Meta Platforms Inc.'s stock reached a new all-time high of $747.90, driven by investor enthusiasm for its aggressive expansion into artificial intelligence. The company unveiled its Superintelligence Labs, led by Alexandr Wang and Nat Friedman, which aims to accelerate next-generation AI research and foundation models. Meta has recruited top AI talent from rivals including OpenAI, Google, and Anthropic, reportedly offering signing bonuses up to $100 million to secure key researchers. This hiring spree follows Meta's $14.3 billion investment in Wang's data labeling company, Scale AI, and an unsuccessful attempt to acquire Friedman's AI startup. Meta's push into AI and clean-energy agreements to power its data centers underscore its ambition to lead the AI sector, contributing to a 23% year-to-date gain in its stock price. Other major tech companies like Microsoft and Nvidia also achieved record highs, while Apple, Amazon, Alphabet, and Tesla remain below their peaks.