Meta Platforms (NASDAQ:META) is increasingly moving toward being an AI stock along with its advances in social media and communications. To that end, it recently brought out Voicebox, a generative AI tool that works on a range of text-to-speech applications. Investors were happy enough with this development, sending Meta up slightly in Friday afternoon’s trading.
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Voicebox offers a range of services for users, generally with an eye toward content creation. It can generate audio clips, or it can edit previously-recorded audio to remove things like dogs barking in the background of a video. It can even produce speech and do so in six different languages. Voicebox, according to Meta, can take a two-second sample of audio and use that audio as part of a text-to-speech generation system.
This is just the latest in a growing series of AI versions, ranging from ChatGPT, which focuses on text, to Dall-E, which focuses on images. However, a report from Engadget notes that Meta won’t be offering up either the app or its source code to the public for right now. Meta notes that its app has “potential risks of misuse.” So, despite the “many exciting use cases for generative speech models,” Meta will be erring on the side of caution, showing off what the system can do instead of actually letting people use it — for now.
And it seems to be working. Investors are all in, but so too are analysts. Mostly. With 37 Buy ratings and five Holds, Meta Platforms stock is considered a Strong Buy. However, with an average price target of $289.68 per share, Meta Platforms stock can only offer a trivial upside potential from here.
