Meta Platforms (META) continues its aggressive artificial intelligence expansion, with reports emerging at the end of June that the tech giant is in advanced acquisition talks with voice AI startup PlayAI. The deal would see Meta acquire PlayAI’s voice-cloning technology and absorb key personnel, following the company’s recent $14.3 billion investment in Scale AI.

PlayAI’s voice synthesis capabilities could enhance Meta’s AI ecosystem, which already includes its smart glasses partnership with Ray-Ban and its Meta AI assistant. The startup’s technology enables realistic voice cloning and conversational AI agents, which aligns with CEO Mark Zuckerberg’s vision of AI-first interactions.

This acquisition attempt reflects Meta’s broader strategy of aggressive talent acquisition in the AI sector. Notably, Zuckerberg has reportedly offered compensation packages worth up to $100 million to lure top researchers from competitors like OpenAI.

For investors, Meta’s AI initiatives signal a commitment to maintaining a competitive positioning against rivals. While these acquisitions require substantial capital expenditure, they position Meta favorably in the evolving AI landscape. These acquisitions are expected to drive future revenue growth through enhanced user engagement and new monetization opportunities.

Is Meta Platforms Stock a Good Buy Right Now?

Meta Platforms is simultaneously pursuing artificial general intelligence (AGI) and the metaverse as the next computing platform, positioning itself at the forefront of two transformative technological shifts.

Meta’s Llama model has achieved remarkable adoption, reaching 1.2 billion downloads since its launch in 2023, up from 700 million just months earlier. This rapid acceleration demonstrates Meta’s growing influence in the open-source AI ecosystem, with over 200,000 developer derivatives created on Hugging Face.

Meta’s three-pillar approach to AGI focuses on foundation models, the evolution from assistants to autonomous agents, and the integration of wearable technology. Its Orion glasses prototype, nearly a decade in development, represents a potential paradigm shift from smartphone-centric interactions to seamless AI-powered wearables.

With up to $72 billion in AI-driven capital expenditure planned for 2025, Meta is clearly commited to maintaining technological leadership. Plus, its bets on models, wearables, and the metaverse offer it multiple pathways to substantial long-term growth.

Is META Stock Overvalued?

Meta Platforms’ stock has returned more than 660% to shareholders over the last decade, valuing it at a market capitalization of $1.8 trillion. 

Analysts tracking META forecast sales to rise from $188 billion in 2024 to $290 billion in 2029. In this period, adjusted earnings are forecast to expand from $25.58 per share to $42 per share. If META stock is priced at 25x forward earnings, it will trade around $1,050 in early 2029, indicating upside potential of 45% from current levels. 

Out of the 54 analysts covering META stock, 45 recommend “Strong Buy,” three recommend “Moderate Buy,” five recommend “Hold,” and one recommends “Strong Sell.” The average target price for META stock is $725, marginally above its current trading price.