French prosecutors and regulators step up scrutiny on smart glasses

Meta agreed to pay up to $18 billion to settle allegations with 51 U.S. states over claims its platforms harm children. The settlement, the largest in U.S. history, requires Meta to implement safety features like time limits, notification restrictions, and age verification on Instagram and Facebook for the next decade.

Meta (META) launched Muse, an AI agent that can manage emails, payments, and other tasks, with subscription plans ranging from free to $100/month. The agent is available in the U.S. and can access various apps, but faces internal concerns over data security and reliability. Meta expects over $130B in AI infrastructure spending this year, aiming to diversify revenue beyond advertising.

Meta AI launched Muse, a personal AI agent app for iPhone and Mac. Muse offers task management, customizable avatars, and free access with weekly limits. The app is currently available in the US. Meta AI also released a desktop app for Mac last month, coinciding with Apple's Siri AI upgrade.

Meta's plans for custom AI chips and the global launch of Meta One subscription service reinforced Bank of America's 'buy' rating. The broker estimates $8.5B in savings by 2027 and sees subscription revenue potential. Meta aims to deploy Broadcom-developed chips by 2027, with 15M current subscribers.

The IRS is defending regulations in a U.S. Tax Court case against Meta, which is contesting a $16 billion tax bill. The IRS argues the regulations are valid, while Meta seeks to overturn them.

Meta Platforms (META) launched Meta One, a subscription service offering expanded AI features across Facebook, Instagram, and WhatsApp. Plans range from $7.99 to $499 per month. The move aims to diversify revenue as Meta faces high AI infrastructure costs and relies heavily on advertising. Meta's Q2 revenue rose 28% to $60.8B, but net income fell 15%. Analysts expect Q3 revenue of $73.66B.