Meta’s Llama 3.3 70B AI Model Beats Competitors, Stock Up

Meta Platforms, Inc., Mark Zuckerberg's company, has released a fantastic AI model Llama 3.3 70B, that allegedly beats its competitors: Google, OpenAI, and Amazon. The new approach significantly outperformed current…

By Ishika Setia

December 10, 2024

3 min read

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Meta Platforms, Inc., Mark Zuckerberg’s company, has released a fantastic AI model Llama 3.3 70B, that allegedly beats its competitors: Google, OpenAI, and Amazon. The new approach significantly outperformed current models before and after the model training along with core and post-training capabilities.

Meta’s Ahmad Al-Dahle, VP of Generative AI, described some of the leading-edge updates to Llama 3.3 70B and posted a performance chart on X (previously Twitter) demonstrating its preeminence over the others in the field like Google’s Gemini 1.5 Pro, OpenAI’s GPT-4, Amazon’s Nova Pro across many measures, such as MMLU.

Meta’s Llama 3.3 70B AI Model Outperforms Competitors, Boosts Stock and User Growth

AI community is no longer a mystery because the model of Llama 3.3 70B is already downloadable via platforms such as Hugging Face & official Llama website. Besides the achievement above, Zuckerberg also announced on Threads that Meta AI, which is based on Llama models, has finally crossed over the 600M monthly active users (MAUs) mark. That is a huge increase for Meta’s AI ecosystem.

Meta is also reportedly spending a lot in areas such as AI infrastructure and plans to build a $10 billion AI data center in Louisiana to support future Llama models, ensuring that the company encourages and bolsters its AI business even more. But beyond AI, Meta is making a bid to lessen its reliance on big tech —namely Alphabet and Microsoft — by creating its own AI-powered search engine. It is part of Meta’s larger strategy to diversify its tech offerings and take more control of operations that power its A.I.

Additionally, Meta is also soliciting proposals for nuclear energy projects to fuel its AI push, with the company looking to procure new 1-4 gigawatts of nuclear capacity in the U.S. by the early 2030s. These ambitious energy commitments illustrate Meta’s forward-looking approach as it ramps up its AI capabilities.

Meta’s strong performance continues in the stock market. On Friday, the company’s stock rose by 2.44%, closing at $623.77, and even with a slight after-hours dip, its year-to-date growth of 80.13% has outpaced the Nasdaq 100 index, which gained 30.7% in the same period. The consensus price target for Meta’s stock is $639.05, with some analysts setting a high target of $811, indicating continued investor confidence in Meta’s future prospects.