Prediction: This Big Bet by Meta Platforms Will Equal Billions for Nvidia
Meta Platforms (NASDAQ: META) has built itself into a social media powerhouse thanks to its ownership of apps most of us use daily: from Facebook and Messenger to WhatsApp and Instagram. In fact, more than 3.2 billion people around the world use at least one of these apps every day.
This popularity has led to enormous revenue growth for Meta over the years, thanks to advertising. Advertising makes up the lion's share of Meta's revenue as companies seek to advertise their products and services to us where they know they'll find us -- on Meta's apps.
But Meta isn't only focused on social media. For quite some time, Chief Executive Officer Mark Zuckerberg has been vocal about his interest in a high-growth area that could boost Meta's social media business and eventually offer it additional revenue streams. Meta is betting on artificial intelligence (AI), and just last week, the company increased its AI bet. My prediction is Meta's latest move will be worth billions for one particular company... Nvidia (NASDAQ: NVDA). Let's find out more.
Source Fool.com
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