Meta Platforms (META) has launched a new version of its Llama artificial intelligence (A.I.) model, which users can access for free.
Called “Llama 3.1,” the new technology comes in three different versions, with one being the largest and most advanced A.I. model yet from Meta Platforms.
As was the case with all previous versions of Llama, the newest model is “open source,” which means it can be accessed by people around the world for free.
The latest A.I. model arrives as Meta works to keep pace with rivals that include start-ups OpenAI and Anthropic, as well as mega-cap technology companies Microsoft (MSFT) and Amazon (AMZN).
The new Llama A.I. model also showcases a growing partnership between Meta and Nvidia (NVDA).
Nvidia, the world’s leading maker of A.I. microchips, is providing Meta with computing chips to help train and operate A.I. models.
Meta Platforms is partnering with a handful of other technology companies that will offer their customers access to Llama 3.1 via their cloud computing platforms, as well as sell security and management tools that work with the new software.
Meta’s corporate partners include Alphabet (GOOG/GOOGL), Databricks and Dell Technologies (DELL).
The open-source approach benefits Meta by exposing developers to its internal tools and inviting them to build on top of it, say analysts.
However, open-source models can cost billions of dollars to create and there aren’t many companies that are financially able to develop and release such models.
Many analysts have criticized Meta Platforms for making it’s A.I. models available for free, noting that its rivals take the opposite approach and charge money for access to their A.I.
Meta Platforms’ stock is down 3% on news that the latest version of Llama is being made available to people free of charge.
Year-to-date, Meta’s stock is up 41% and trading at $488.69 U.S. per share.
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