Meta’s massive AI investments are starting to yield tangible results in its advertising business, which accounts for over 95% of its revenue. Bernstein predicts Meta could dethrone Google Search as the world’s biggest ad platform this year, with Meta’s ad revenue surging 27% year-over-year in Q2 while Google’s dropped 1%. Meta gained two percentage points of market share, the largest gain among major digital ad platforms. Meanwhile, Meta is launching Hatch, a consumer AI agent for Instagram and WhatsApp, potentially priced at up to $199.99 per month. Despite these advances, Meta shares are down more than 12% year to date and the company must pay up to $18 billion to settle youth social media addiction lawsuits.
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