Meta’s open-source strategy with Llama creates business opportunities

Meta’s (NASDAQ:META) Llama artificial intelligence models are gaining a foothold in an array of businesses as the social media titan stands firm with its open-source strategy.

Llama model downloads have nearly hit 350M since it was released last year, and its token volume across cloud service providers has more than doubled since Llama 3.1 was released in April, the company announced today.

“The success of Llama is made possible through the power of open source,” said Ahmad Al-Dahle, Meta’s vice president of GenAI, in a blog post. “The innovation has been broad and rapid, from start-ups pushing new boundaries to enterprises of all sizes using Llama to build on-premises or through a cloud service provider.”

Indeed, major corporations have adopted a myriad of use cases for the model. For example, Accenture (ACN) utilized Llama 3.1 to build a custom large language model to produce its annual ESG report. AT&T (T) is using Llama and generative AI for customer service. DoorDash (DASH) has increased efficiencies in its software engineering team with Llama, while Goldman Sachs (GS) uses it to extract information from documents.

“The floodgates are now open for every enterprise and industry to build and deploy custom Llama supermodels using NVIDIA AI Foundry, which offers the broadest support for Llama 3.1 models across training, optimization and inference,” said Nvidia (NVDA) CEO Jensen Huang. “It’s incredible to witness the rapid pace of adoption in just the past month.”

Meta was up 1.6% by noon trading.