What Virginians Are Seeing: Attorney General Jay Jones Shares Weekly Roundup of Actions Taken

Meta agreed to an $18B settlement, including platform changes to protect children, such as time limits and age checks. The deal may influence global regulations on social media design. Courts are testing whether platforms can be held responsible for product features, not just user content. Meta's stock may be affected by potential revenue impacts and ongoing legal cases.

Meta agreed to pay $18 billion over a decade to settle US lawsuits alleging its social media platforms harm children. The company also agreed to restrict teen usage and disable notifications during school hours. Colorado AG Phil Weiser called the settlement meaningful. The agreement may pressure other platforms to change practices.

The Illinois Federation of Teachers urges Gov. Pritzker to use $768M from a Meta settlement to fund public schools, citing underfunding gaps. The union argues this one-time revenue could address funding needs, as the state's evidence-based model shows most schools are underfunded. The settlement follows allegations of addictive harm to children by social-media platforms.

U.S. stocks rallied after Fed Governor Christopher Waller suggested a potential September rate hold. Bitcoin surged 4.6% to $80,900. Tesla, Meta, and Microsoft led gains, while Broadcom and Tyson Foods declined. Snowflake rose 21.9% on strong earnings and raised guidance. The S&P 500 and Nasdaq 100 each gained over 0.9%.

Meta (META) shares rose 3.5% after launching paid access to its AI model, Muse Spark 1.3. CEO Mark Zuckerberg called it a significant advancement. Treasury yields also declined, supporting equity valuations. Meta's stock is up 3.5% to $613.53. The company reported a 26.2% revenue increase in Q3 2025 but missed EPS estimates due to a tax charge.

Meta Platforms' stock rose 3.7% on Sept. 3, 2026, following the release of its Muse Spark 1.3 AI model, which improves coding and agentic tasks. The model scored well on benchmarks, placing it among leading AI models from OpenAI and Anthropic. Meta's AI chief highlighted its potential for future personal AI assistants.