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Tastes Great, Less Filling? Report On Meta Plan For Cheaper, Fully AI-Made Ads Boosts Tech Giant’s Stock As Media Agency Shares Slump
Meta's plan to use AI to deliver cheaper ads, reported by the Wall Street Journal, boosted the tech giant's stock as shares in ad agencies slumped.
The Wall Street Journal report on the initiative sent Meta stock up 3% and dragged down shares in ad agency giants WPP, Omnicom and Interpublic between 2% and 4% apiece. Meta founder and CEO Mark Zuckerberg has long cited AI as a core strategic objective, recently outlining plans to spend hundreds of billions of dollars on developing large-language models like Llama. While social media has vacuumed up an increasing share of brands’ overall spending, ad buyers frequently have to reassess when their create appears next to objectionable content, something that has happened with regularity.
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