Meta’s first AI product under CEO Alexandr Wang lifts shares 9%

Meta held a livestreamed event Wednesday at its Menlo Park headquarters to unveil its first major artificial intelligence product since Alexandr Wang became CEO. The company said the announcement coincided with a roughly 9% rise in its shares in regular trading.

The offering combines a set of generative AI models with an application programming interface that will be available to developers and integrated into Meta’s apps, including Facebook, Instagram, WhatsApp and its virtual reality services. Meta plans a limited enterprise preview first, followed by a broader public release later this year.

Company executives described the models as capable of generating text, summarizing long documents, creating images from prompts and assisting with code generation. Meta demonstrated sample applications such as a content assistant for creators that produces short-form video scripts and a business tool that summarizes consumer messages and suggests replies.

Commercial plans include tiered API pricing, subscription products and enterprise licensing. Meta said it will offer free credits to startups and researchers during the preview phase and sign integrations with software firms to embed the API into customer relationship and content management systems.

The company outlined safety and governance measures that will accompany the product. These include content filters, developer moderation tools, API enforcement of usage policies, human review processes for high-risk applications and third-party audit partnerships for specialized industries such as healthcare and finance.

Executives asserted the models run with lower operating costs than third-party alternatives and that competitive pricing will be available to businesses. In a statement, Wang framed the launch as part of the company’s shift to prioritize products that can be monetized directly and said the goal is to provide “scalable AI tools for creators and enterprises.”

Meta has been building large-scale machine learning infrastructure for several years and has previously deployed AI in recommendations and content moderation. The company plans to expand its developer program, refine safety controls and report adoption and revenue figures in upcoming quarterly disclosures.