Meta shares hit all-time high as Mark Zuckerberg goes on AI hiring blitz
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Meta shares hit a record high on Monday, underscoring investor interest in the company's new AI superintelligence group.
The company's shares reached $747.90 during midday trading, topping Meta's previous stock market record in February when it began laying off the 5% of its workforce that it deemed "low performers."
Meta joins Microsoft and Nvidia among tech megacaps that have reached new highs of late, all closing at records Monday. Apple, Amazon, Alphabet and Tesla remain below their all-time highs reached late last year or early this year.
Meta CEO Mark Zuckerberg has been on anAI hiring blitzamid fierce competition with rivals such asOpenAIand Google parentAlphabet. Earlier in June, Meta said it wouldhireScale AI CEO Alexandr Wang and some of his colleagues as part of a $14.3 billion investment into the executive's data labeling and annotation startup.
The social media company also hired Nat Friedman and his business partner, Daniel Gross, the chief of Safe Superintelligence, an AI startup with a valuation of $32 billion, CNBCreportedon June 19. Meta's attempts to buy Safe Superintelligence were rebuffed by the startup's founder and AI expert Ilya Sutskever, the report noted.
Wang and Friedman are the leaders of Meta's new Superintelligence Labs, tasked with overseeing the company's artificial intelligence foundation models, projects and research, a person familiar with the mattertold CNBC. The term superintelligence refers to technology that exceeds human capability.Bloomberg News firstreportedabout the new superintelligence unit.
Meta has also snatchedAI researchersfrom OpenAI. Sam Altman, OpenAI's CEO,saidduring a podcast that Meta was offering signing bonuses as high as $100 million.
Andrew Bosworth, Meta's technology chief, spoke about the social media company's AI hiring spree during a June 20interview with CNBC's "Closing Bell Overtime,"saying that the talent market is "really incredible and kind of unprecedented in my 20-year career as a technology executive."
WATCH:Meta's AI talent spending spree
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