Meta Harnesses European Data To Train AI Amidst A 40% Year-To-Date Surge That Is Near To Breaking Record Highs

• Meta Platforms has revised its data use policies to incorporate publicly shared content from European users on Instagram and Facebook for AI model training.
• Noyb has lodged multiple complaints across Europe, demanding a halt to Meta's data practices.
• Meta's stock price has experienced a 40% increase year-to-date and a 469% rise since the low of November 2022.

Meta Platforms Inc META has announced a significant change in its data use policies for training generative AI models. They will now use publicly shared content from European users on Instagram and Facebook.

European and UK users will receive notifications explaining how their public data is being used to improve AI features. This move aims for greater transparency but faces challenges from Noyb, a digital rights group.

Noyb has filed several complaints across Europe, arguing that these data practices should stop due to privacy concerns and potential violations of EU law.

After hitting an all-time high of $531 on April 8, Meta's stock took a significant hit, dropping 22%, stopping just above $400 by April 25. This decline happened despite their actual earnings of $4.71 beating the estimated $4.32.

Earnings contributed to 15% of that drop, but the stock has since displayed resilience. It entered a recovery phase and surged back up 21%, breaking above the $500 mark, a key psychological level.

Now, the price is just 6% shy of its all-time high. In June alone, the stock has risen over 7%, contributing to a year-to-date rise of more than 40%.

Looking back at their history, Meta's shares have risen 469% from a low of $88 in November 2022. This recovery shows the potential for Meta's stock to establish a strong long-term upward trend, especially if it can break above current resistance levels.

After the closing bell on Monday, June 10, the stock closed at $502.60 trading up by 1.96%.

This article is from an unpaid external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.