Meta Platforms (NASDAQ:META) shares surged to an all-time high of US$747.90 on Monday, as investors responded to the company’s aggressive push into artificial intelligence. The rally marks a new peak for the stock, surpassing its previous record set in February during a wave of performance-based layoffs.
The surge comes as Meta intensifies its AI strategy through the formation of its new Superintelligence Labs, which will oversee foundation models and cutting-edge research. The unit is led by recent hires Alexandr Wang, CEO of Scale AI, and Nat Friedman, co-founder of Safe Superintelligence. Meta reportedly invested US$14.3bn in Wang’s data labelling company and attempted—unsuccessfully—to acquire Friedman’s AI firm.
The company has also lured talent from rival OpenAI, with CEO Sam Altman revealing that Meta has offered signing bonuses as high as US$100m. Meta’s tech chief Andrew Bosworth described the current talent race as “unprecedented” in his two-decade career.
Meta joins Microsoft and Nvidia among the few megacap tech firms to close at record highs on Monday. Other giants like Apple, Amazon, Alphabet and Tesla remain below their recent peaks.
