Meta AI Chief Joelle Pineau Set To Exit After 8-Year Stint: Retail Mood Tempers Amid Tariff Threat
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Synopsis
Meta is set to ramp up capital spending by 50% to $60 billion to $65 billion in 2025, with the bulk of the expenditure growth going into increased generative AI efforts and the core business.
Meta Platforms, Inc. (META) stock rose on Tuesday amid the broader market recovery as investors shrugged off a key executive departure.
Meta Artificial Intelligence (AI) Research Vice-President Joelle Pineau confirmed she would exit at the end of May through a post on Facebook.
Bloomberg earlier reported on the development, citing anonymous sources.
Montreal-based Pineau is a Meta veteran, having served the company since 2017.
“Through the years, we created and nurtured dozens of projects that are now household names at Meta, used by dozens of teams to build better products: PyTorch, FAISS, Roberta, Dino, Llama, SAM, Codegen, Audiobox,” she said.
The company’s research has also found its way into labs and homes of millions of researchers, practitioners, entrepreneurs, tinkerers, teachers, students, and many others, she added.
The executive said she will take time off before venturing into a “new adventure.”
Meta has recently ramped up its AI efforts. In late February, the Menlo Park, California-based company said it would launch a Meta AI standalone app during the second quarter.
Reports suggested the company was contemplating a paid subscription service for Meta AI, similar to how OpenAI and Microsoft charge users to give them access to more powerful versions of their ChatGPT and Copilot chatbots.
The Mark Zuckerberg-led company is also reportedly planning to build a new data center campus with over $200 billion investment.
During its fourth-quarter results in late January, the company said it would ramp up capital spending by 50% to $60 billion to $65 billion in 2025. The bulk of the expenditure growth was due to increased investment in both generative AI efforts and core business.
Separately, Meta investors will also likely watch the progress on the TikTok sale. A Reuters report said the White House is set to review a final proposal related to the sale ahead of the April 5 deadline.
On Stocktwits, sentiment toward the Meta stock turned to ‘neutral’ (54/100) by the end of Tuesday, from ‘bullish’ a day ago. The message volume remained ‘normal.’
The pessimism concerning Meta was based on the potential strong negative reaction of the market to Trump tariffs.
However, another user sees much more potential for Meta stock following Tuesday’s rebound.
Meta stock has weathered the market-wide downturn fairly well. The stock ended the first quarter down merely 1.5% compared to the 15.7% plunge by the Roundhill Magnificent Seven ETF (MAGS).
On Tuesday, Meta rose 1.67% to $586, turning just higher for the year-to-date period.
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