Meta Platforms (NASDAQ:META) has unveiled a new open-source AI tool named AudioCraft, aiming to push forward the field of AI-generated audio. This tool comes packed with three models: MusicGen, AudioGen, and EnCodec, each with specific capabilities. MusicGen has been trained with Meta-owned and specially licensed music, while AudioGen focuses on public sound effects. Both these models are designed to conjure audio from simple text prompts. In addition to these, an improved version of the EnCodec decoder is being released, promising higher-quality music generation with fewer imperfections.
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What really sets AudioCraft apart is the exciting user capabilities, like generating environmental sounds such as dogs barking or cars honking. Meta is going beyond just creating these tools; they’re sharing the model weights and code, putting it in the hands of researchers and practitioners to train with their own datasets. This move signals Meta’s investment in an area of AI that, in their view, has been somewhat trailing behind the rapid developments in image, video, and text generation. It’s a bold step into uncharted territory, where the melody of innovation is waiting to be composed.
Is META Stock a Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 39 Buys, two Holds, and zero Sells assigned in the past three months, as indicated by the graphic above. Furthermore, the average price target of $19.84 per share implies 19.84% upside potential.
