Meta Connect 2024: What Is The Stock Price Of Meta After Announcing New AI Gadgets?

Meta’s stock climbed 2% on Wednesday, September 25 after the company introduced its first augmented reality (AR) glasses at its annual Connect event and unveiled various AI-driven updates across its platforms like Facebook and Instagram.

The AR glasses, named Orion, are designed to deliver “digital experiences that transcend the limitations of a smartphone screen,” according to Meta. These glasses feature holographic displays and include AI that can anticipate user needs and respond proactively.

In addition to the AR glasses, Meta introduced a more affordable version of its Meta Quest 3 mixed reality headset, starting at $299, with shipments expected to begin on October 15.

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Meta also announced significant updates to its AI assistant, Meta AI. The assistant, which now reaches 400 million users monthly, has been upgraded to respond across Meta’s platforms, including Instagram, Messenger, WhatsApp, and Facebook.

Additionally, users can now choose from various voices, including AI versions of celebrities Meta has partnered with.

Meanwhile, CEO Mark Zuckerberg has reached a significant milestone, joining Tesla’s Elon Musk and Amazon’s Jeff Bezos in the exclusive group of individuals with a net worth exceeding $200 billion.

Zuckerberg’s fortune surged by $72 billion in 2024, largely due to Meta’s stock rising nearly 60% this year. Shares now trade at over $560, contributing to Zuckerberg’s wealth hitting $200 billion. Musk remains at the top of the wealth rankings, with a net worth of $265 billion, while Bezos follows at $216 billion.

Meta’s announcements, along with its growth in AI, are positioning the company as a significant player in both the AR and AI spaces, driving investor confidence and pushing the stock to new highs.