Google, Meta, and others commit nearly US$2 billion to open AI biology data

Wells Fargo raised its 12-month price target for Meta Platforms (META) to $1,000 from $796, maintaining an 'Overweight' rating. The company reported a 28% revenue increase to $60.8 billion in Q2 2026, but faces risks from high capital expenditure and regulatory pressures.

UK regulator Ofcom is investigating Meta over its Instagram Instants feature, examining whether the company adequately assessed risks before launch. The probe focuses on potential harm to users, particularly children. Meta has not yet commented on the investigation.

Constellation Energy (CEG) signed a deal with Alphabet's Google to supply 890 MW of nuclear power, highlighting its role in powering AI growth for tech giants. CEG operates outside regulated utilities, offering direct power sales to companies like Microsoft, Meta, and Amazon. Its scale, diverse energy portfolio, and long-term contracts support growth, though its stock remains 25% below 2025 highs.

Meta acquired 419 Sony patents for VR, AR, and MR tech, including 180 US patents. The deal, finalized in December 2025, covers patents for spatial data, displays, and eyewear. Meta plans to launch $1300 VR glasses in 2027, while Sony is scaling back its VR hardware ambitions.

Florida Attorney General James Uthmeier filed a lawsuit against Meta Platforms, seeking a temporary injunction to limit teen use of its platforms. The case is pending a judge's decision.

Google/Alphabet (GOOG) has contracted 3,590 MW of power from Constellation Energy (CEG), including 890 MW of nuclear energy. The 20-year agreement will fund $4.3B in upgrades to Constellation's nuclear reactors. This deal, set to begin in 2028, aims to meet Google's rising electricity demand due to AI and data center expansion, according to the companies.