Meta Platforms is nearing new highs on a wave of potential acquisition reports 📈

According to Bloomberg reports, Meta Platforms (META.US) plans to acquire PlayAI, an AI startup specializing in voice imitation. Although this segment of operations is unlikely to completely transform the company's operating results, the potential acquisition should be viewed as another step in forging new paths in the artificial intelligence development race.

Among the major technology companies striving to outpace the competition in AI development are Alphabet, Microsoft, and Amazon. For Meta Platforms, developing artificial intelligence is one of its main goals for this year. In mid-June, the company invested $14.3 billion in Scale AI and brought the CEO of that company into its team focused on developing 'superintelligence.' Hence, another step in the area of mergers could provide solid support for the company to try and take the lead in this technological race.

Meta Platforms' stock prices are approaching ATH. Source: xStation

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