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Meta Set to Launch Standalone AI App in Q2 2024

Key Takeaways

Meta has announced plans to introduce a standalone Meta AI application in the second quarter of the year, as reported by CNBC. CEO Mark Zuckerberg expressed optimism that Meta AI could attract up to 1 billion users by the end of 2024. The company is also exploring a subscription service for the app, similar to competitors such as OpenAI.

According to a recent report by CNBC, Meta Platforms (META) is on the verge of launching a dedicated Meta AI application that aims to rival existing solutions from companies like OpenAI and Alphabet’s Google. This standalone app is projected to be available in the second quarter of 2024, as indicated by sources close to the development.

The current versions of Meta AI can be accessed through web browsers and various Meta platforms, including Facebook, Instagram, WhatsApp, and Messenger. This expansion into a dedicated app suggests a significant commitment from Meta to enhance its AI offerings.

As of now, Meta has not provided a comment on the report regarding the app’s release.

During a recent earnings call, Mark Zuckerberg described Meta AI as “one of the most transformative products that we’ve made,” highlighting its potential to reach 1 billion users this year. The AI system has already achieved substantial traction, reportedly reaching 700 million monthly active users, according to the company’s Chief Financial Officer, Susan Li. This ambitious growth aligns with Meta’s plans to significantly increase investments in AI technology, with capital expenditures estimated between $60 billion and $65 billion, a sharp rise from $39 billion in 2024.

The company is also considering a subscription model for the Meta AI app, mirroring the approaches utilized by competitors such as OpenAI’s ChatGPT, Elon Musk’s xAI, and others that feature premium service tiers. Other notable AI applications like Anthropic’s Claude, Google’s Gemini, Microsoft’s Copilot, and DeepSeek have similarly embraced subscription-based offerings to monetize their services.

Following this announcement, shares of Meta experienced a slight gain of less than 1% in after-hours trading on Thursday, after a 2% decline during regular market hours. Despite recent fluctuations, the stock has increased by approximately 12% since the beginning of the year.

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