Mark Zuckerberg may have a history of copying of others’ ideas, but when it comes to navigating the generative AI hype cycle, he’s the one forging a smarter path.
In the year to date, Meta Platforms Inc.’s shares have significantly outperformed its tech giant peers, rising 54% while the likes of Alphabet Inc.’s Google and Microsoft Corp. have gone up 18.5% and 12% respectively. Why? Investors have become more skeptical in recent months about how quickly new AI models will economically benefit the customers of cloud giants, and their enthusiasm for Microsoft, Google and Amazon.com Inc. has waned.