Meta's annual Connect conference focused heavily on artificial intelligence (AI) rather than virtual reality (VR), with discussions about Meta's large language model (LLM) called Llama taking center stage. Llama is seen as an open-source alternative to Microsoft-backed OpenAI's GPT and Google's PaLM 2. While the value and understanding of Llama are unclear on Wall Street, Meta is investing heavily in its development. Although Llama is given away for free to developers, Meta hopes to benefit from improvements made by third-party developers to run its AI software more efficiently. The company also sees Llama as a recruiting tool and capitalizes on the open-source community's contributions.

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