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  • 1 year ago
Meta Platforms has frozen hiring in its artificial intelligence division after months of aggressive recruitment, The Wall Street Journal reported. The freeze, effective last week, prohibits external hires and internal team transfers within the AI division. The company had lured over 50 researchers and engineers from rivals including OpenAI, Alphabet, and Apple with compensation packages up to $100 million. Morgan Stanley analysts warned that escalating stock-based pay could reduce Meta’s buyback capacity and weigh on shareholder returns, contributing to tech stock selloffs. The freeze follows Meta’s reorganization of its Superintelligence Labs into four specialized divisions after dissolving its AGI Foundations team due to underwhelming Llama model results.

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00:00It's Benzinga, bringing Wall Street to Main Street.
00:03Meta Platforms has frozen hiring in its artificial intelligence division
00:06after months of aggressive recruitment, the Wall Street Journal reported.
00:11The freeze effective last week prohibits external hires and internal team transfers within the AI division.
00:17The company had lured over 50 researchers and engineers from rivals,
00:21including OpenAI, Alphabet, and Apple, with compensation packages up to $100 million.
00:26Morgan Stanley analysts warned that escalating stock-based pay could reduce Meta's buyback capacity
00:32and weigh on shareholder returns, contributing to tech stock sell-offs.
00:37The freeze follows Meta's reorganization of its superintelligence labs into four specialized divisions
00:42after dissolving its AGI Foundation's team due to underwhelming Lama model results.
00:47For all things money, visit Benzinga.com.
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