Meta Platforms Inc. shares are on track to post a gain for a 12th consecutive session, their longest winning streak ever, as investors cheer the social media giant’s artificial intelligence strategy.
The stock is up 1.1% Tuesday. If the gains hold through end of the session, the owner of Facebook will have added more than $235 billion in market value during the streak, bringing its market capitalization to nearly $1.8 trillion.
This is a “really big year” for Meta, Chief Executive Officer Mark Zuckerberg said last week, as he predicted that the company’s AI assistant will become the most widely used in the industry. The Menlo Park, California-based company also earmarked as much as $65 billion for AI-related investments in 2025.
The company, which has rallied almost 700% from its low in November 2022, is considered a net beneficiary from the DeepSeek AI update that rocked the majority of technology stocks last week. Analysts noted that Meta’s Llama series of AI models is open sourced, like the Chinese startup.
“The company looks extremely competent, being the only one of the ‘Magnificent 7’ to focus on an open-sourced model,” CFRA Research analyst Angelo Zino said. “Ultimately, the DeepSeek model should lead to faster AI product development and quicker return on investment for Meta.”