Meta Platforms Inc. runs a family of social apps including Facebook, Instagram, and WhatsApp to help people connect, share content, and participate in online communities. It also develops virtual reality hardware and experiences through Oculus and is exploring the metaverse. Most revenue comes from advertising, with tools that let businesses target audiences using data from its large user base, plus VR product sales and digital services. The company differentiates itself by owning multiple major social platforms, offering a scalable cross-platform ad platform, and investing in VR, AR, and AI to expand digital experiences and monetization opportunities.
Company Size
10,001+
Company Stage
IPO
Headquarters
Menlo Park, California
Founded
2004
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Researchers have extracted internal files from Meta's AI assistant Muse, revealing how the system organises user information. According to documents obtained by security researcher Karan Joshi, Muse creates detailed profiles of people in users' lives, including family, friends, and colleagues. The AI compiles data hourly to track relationships and make suggestions, such as recommending activities based on personal preferences. Profile pages can include sections like Facts, History, and relationship details, though they start sparse and develop over time. Meta says the files were intentionally accessible for transparency. The company's instructions direct Muse to use only available evidence rather than inventing details. Joshi described the approach as "pretty creepy", noting Meta's extensive access to social network data makes the system particularly noteworthy compared to general AI chatbots.
Meta announced Petal, a roughly 4,300-mile subsea cable connecting the US and France, expected to enter service in 2029. The cable will carry 1 petabit per second, double the capacity of today's most advanced transoceanic cables, using two-core fibre technology. The company has invested in over 20 subsea cable projects spanning six continents. Its most ambitious, Project Waterworth, will stretch more than 31,000 miles across five continents. Meta's 2Africa system circles Africa and connects to Europe, the Middle East, and South Asia, landing in 33 countries. Whilst Meta hasn't disclosed costs for Petal or Waterworth, TechCrunch reported Waterworth could exceed $10 billion. The company expects capital expenditures of $130 billion to $145 billion this year, nearly double 2025's spending.
US stock futures rose on Friday as investors awaited the September jobs report for insights into the Federal Reserve's interest rate path. Nasdaq futures climbed 0.6%, whilst Dow and S&P 500 futures gained 0.3%. The data follows softer inflation readings earlier this week that reduced expectations for an October rate hike to around 28%, according to CME FedWatch. Nike shares plunged 9% in premarket trading after reporting a revenue decline and 26% drop in Greater China sales. CEO Elliott Hill warned the turnaround would take time as the company overhauls operations, including its digital distribution strategy. Meta Platforms faces potential penalties up to $40 billion from New Mexico over data privacy issues related to the Cambridge Analytica case.
Simply is collaborating with Meta to bring its music learning apps to Meta Ray-Ban Display glasses. The partnership introduces dedicated experiences for Simply Piano and Simply Guitar that display chords, lyrics, and real-time guidance directly in users' field of view whilst they play. The technology uses Simply's audio recognition capabilities to provide hands-free feedback, allowing learners to stay focused on their instruments. The experiences were showcased at Meta Connect 2026. Simply sees AI glasses as a strategic opportunity to embed learning directly into creative activities. The company, which operates apps including Simply Piano, Simply Guitar, Simply Sing, and Simply Draw, aims to make technology "disappear into the experience" rather than introduce additional screens. This marks Simply Guitar's first step into AI glasses as the company works towards bringing its full portfolio to wearable devices.
Ray-Ban Meta is partnering with Complex to showcase its new Audio glasses at ComplexCon in Los Angeles on 3-4 October. The event will feature an interactive listening lounge where attendees can try the glasses before their 13 October launch. Grammy-winning artist Victoria Monét will host a Q&A and silent listening session on 4 October, playing her new album "Frequency of Love" exclusively through the glasses. The lounge offers fans a chance to win concert tickets. The Ray-Ban Meta Audio glasses feature open-ear sound and AI technology in classic Clubmaster and Burbank frames, starting at $349. They will be available for pre-order at the event and on Meta.com. "Sound is the most important and loved feature of our glasses," said Dave Kaufman, Meta's Senior Director of Marketing.