|Day's range||11.03 - 11.15|
Big Tech has already laid off more than 150,000 workers in 2023. In some ways, it's the same story over and over – these companies are not only all conducting layoffs, they're using a lot of the same strategies to do so. However, just because they're all doing it, doesn't mean they're best practices, experts say.
The success of OpenAI's ChatGPT might have been the launching pad to bring artificial intelligence (AI) to the masses. It could accelerate investment in AI software, hardware, and services, which was already projected to reach $153 billion this year and grow 27% per year through 2027, according to International Data Corp. (IDC). Let's look at how Alibaba and Meta Platforms are using AI and why investors shouldn't hesitate to buy these two stocks now.
Is this rally likely to continue, or should investors hold off on buying Meta Platforms' stock? Between the cost-cutting efforts and the potential crackdown on TikTok's use in the U.S., investors have been increasingly bullish on Meta's stock.