Meta restructures AI division to develop "superintelligence" as stock price hits an all-time high.

On July 1, Jin10 reported that Meta Platforms (META.O) CEO Mark Zuckerberg announced a major restructuring of the company’s artificial intelligence division, including a focus on developing “superintelligence,” systems capable of completing tasks as well as or better than humans. According to an internal memo, Zuckerberg told employees in a letter on Monday that Meta’s AI efforts would fall under a new department called “Meta Superintelligence Labs” (MSL), led by Alexandr Wang, the former CEO of data labeling startup Scale AI. Wang will serve as the company’s Chief Artificial Intelligence Officer. Zuckerberg also stated that former GitHub CEO Nat Friedman will co-lead the group and oversee Meta’s work in AI product and application research. Following this news, Meta’s stock price briefly hit a record high of $747.9.