Meta Platforms launched Muse Spark 1.1, a new AI model priced to compete with OpenAI. The company's self-developed Iris AI chip enters mass production in September to reduce data center costs.
Meta plans to invest up to $145 billion in AI infrastructure. This strategy includes the construction of a $9.1 billion data center in Canada.
The European Commission issued preliminary findings that Meta breached the Digital Services Act through addictive designs. Regulators demand changes to infinite scrolling and autoplay videos to protect the mental health of minors. Meta faces substantial fines if mitigation measures are deemed insufficient.
Meta shares recovered after initial pressure from high capital expenditure concerns. Investors weighed AI commercialization and cost savings against European regulatory headwinds.