Meta Stock Falls as Florida Asks a Court to Switch Off Infinite Scroll for Teens

Biohub, Google, Meta, and the U.S. government are collaborating on a $1.8B project to generate biological data for AI models. Google, Meta, and Isomorphic Labs will invest $300M, while the DOE and NIH will contribute over $500M each. The goal is to create standardized data for predictive cell models, accelerating scientific research.

Meta (FB) agreed to impose a 2-hour daily limit on Facebook and Instagram for teens under 18 in certain US states, as part of a settlement with state attorneys general. The limit is cumulative across both platforms, with exceptions for direct messaging. Additional restrictions include nighttime access blocks and reduced notifications during school hours. Meta may pay up to $17.1 billion to participating states.

Florida sued Meta, seeking a court order to enforce stricter safety measures on Instagram and Facebook for young users, including age verification and usage limits. The state rejected a $18B settlement Meta reached with 48 other states, calling it insufficient. Meta has denied wrongdoing and claims it prioritizes teen safety.

Google, Meta, and other companies are investing nearly US$2 billion to create an open database for AI systems focused on biology, disease research, and drug discovery.

Meta-backed Biohub is expanding its 'Virtual Biology Initiative' with $1.8B total funding, including contributions from the U.S. Department of Energy, NIH, Google DeepMind, and others. The initiative aims to standardize and produce biological data for AI-driven drug discovery. Meta, while not directly involved in drug development, provides AI technologies and talents to Biohub, focusing on data and foundational models.

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.