9 AI News Updates That Analysts Are Monitoring

3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 235

Meta Platforms, Inc. (NASDAQ:META) engages in the development of products that enable people to connect and share with friends and family. Latest reports, published by tech news platform TechCrunch, claim that as the AI business of the company takes off, it is planning to build build a new, major, fibre-optic subsea cable extending around the world — a 40,000+ kilometer project that could total more than $10 billion of investment. Per the report, Meta will be the sole owner and user of this subsea cable — a first for the company and thus representing a milestone for its infrastructure efforts.