Meta Platforms (NASDAQ:META) rolls out unified Ads Manager and teases Business AI for WhatsApp Business as it seeks to deepen its hold on small-and-mid-size marketers.
Meta said businesses will soon manage WhatsApp, Facebook and Instagram campaigns in one portal, using the same creative setups and budgets, a move it says will streamline cross-app marketing and reduce friction for advertisers.
It also introduced Business AI, a 24/7 support engine that can deliver personalized product recommendations and drive sales directly on merchant websitesan implicit challenge to chat-based commerce rivals.
Finally, Meta is adding audio and video calling plus voice-note messaging to WhatsApp Business, enhancing how companies engage customers and laying groundwork for future AI-driven voice assistants.
The announcements come as Meta battles slowing ad growth and investor skepticismshares slipped 2.87% todaywhile it seeks fresh growth engines beyond its core feeds.
At its Conversations conference in Miami, Meta touted that more than 200 million businesses use its messaging apps today, underscoring the vast addressable market for automation and analytics tools.
CEO Mark Zuckerberg has repeatedly pushed for AI-powered products as the next battleground, and Business AI signals that WhatsApp is central to his strategy.
Why It Matters: By folding WhatsApp into its broader ads ecosystem and layering in AI-powered commerce tools, Meta aims to boost ad budgets and lock in business customers resistant to rising marketing costs elsewhere.
Investors will watch for adoption metrics and any early revenue impact when Meta reports Q2 results later this month.
Siemens AG announced that it has completed the acquisition of Dotmatics, a leading provider of Life Sciences R&D software headquartered in Boston and portfolio company of global software investor Insight Partners, for an enterprise value of US$5.1 billion. With the transaction now completed, Dotmatics will form part of Siemens’ Digital Industries Software business, marking a significant expansion of Siemens’ industry-leading Product Lifecycle Management (PLM) portfolio into the rapidly growing and complementary Life Sciences market.
Latham & Watkins LLP represented Siemens in the transaction with a corporate team led by New York partners Eyal Orgad, Daniel Williams, and James Gorton, with associates Jameson Miller, Junhan Zhang, David Lee, Sam Berry, and Alex Reiher. Advice was also provided on antitrust matters by Washington, D.C. partners Michael Egge, Jason Cruise, Frankfurt/Düsseldorf partner Max Hauser, London partner Jonathan Parker, and Frankfurt counsel Nils Bremer; on CFIUS and Foreign Direct Investment matters by Washington, D.C. partner Damara Chambers, Hamburg partner Jana Dammann de Chapto, and Washington, D.C. counsel Catherine Hein; on environmental matters by Los Angeles/Houston partner Joshua Marnitz; on compensation and benefits matters by Los Angeles partner Larry Seymour and London partner Kendall Burnett, with associate Megan Ampe; on labor and employment matters by Chicago partner Nineveh Alkhas; on real estate matters by Chicago counsel Jeffrey Anderson; on tax matters by Bay Area partner Katharine Moir with Washington, D.C associate Christina McLeod; on intellectual property matters by Orange County counsel David Kuiper; on data privacy matters by Bay Area partner Robert Blamires and Frankfurt counsel Wolf-Tassilo Böhm; on healthcare regulatory matters by Washington, D.C. partners Jason Caron and Ben Haas, and Paris/Brussels partner Eveline Van Keymeulen; and on insurance matters by Los Angeles partner Drew Levin and San Diego/Los Angeles counsel Hannah Cary.
The Greenback dipped to new multi-year troughs before attempting a mild rebound on Tuesday, as investors continued to assess the participation of Chief Powell at the ECB Forum, while fresh tensions emerged on the trade front in anticipation of the July 9 tariffs deadline.
Here’s what to watch on Wednesday, July 2:
The US Dollar Index (DXY) added to the ongoing lower leg and receded to new multi-year lows in the sub-97.00 neighbourhood. The usual weekly MBA Mortgage Applications are due, followed by Challenger Job Cuts, the ADP Employment Change report, and the EIA’s weekly report on US crude oil stockpiles.
EUR/USD halted its multi-day positive streak shortly after reaching fresh yearly peaks above the 1.1800 level. The ECB Forum on Central Banking will precede the release of the EMU’s Unemployment Rate.
GBP/USD resumed its decline soon after hitting new YTD tops near 1.3790, just to end the day with humble gains in the low 1.3700s. Next on tap across the Channel will be the BoE’s DMP Survey and Credit Conditions Survey, seconded by the final S&P Global Services PMI, all due on July 3.
USD/JPY remained on the back foot and retreated to the 142.70 region, or four-week lows. Next on the Japanese docket will be the weekly Foreign Bond Investment figures on July 3.
Following its risk-related peers, AUD/USD hit new tops just below the 0.6600 barrier before succumbing to some modest downside pressure. The Ai Group survey is due alongside Building Permits, Retail Sales and Private House Approvals.
WTI prices maintained their multi-day erratic performance on Tuesday, always around the $65.00 mark per barrel as traders remained prudent ahead of the OPEC+ meeting and rising expectations surrounding the trade front.
Gold prices rose markedly and revisited the $3,360 zone per troy ounce, or multi-day highs, following the increasing caution around the US trade policy and the vacillating Greenback. Silver prices extended Monday’s uptick to two-day highs around $36.60 per ounce.
As Mark Zuckerberg staffs up Meta’s new superintelligence lab, he’s offered top tier research talent pay packages of up to $300 million over four years, with more than $100 million in total compensation for the first year, WIRED has learned.
Meta has made at least 10 staggeringly high offers to OpenAI staffers, sources say. One high ranking researcher was pitched on the role of chief scientist but turned it down, according to multiple sources with direct knowledge of the negotiations. While the pay package includes equity, in the first year the stock vests immediately, sources say.
“That’s about how much it would take for me to go work at Meta,” says one OpenAI staffer who spoke with WIRED on the condition of anonymity as they aren’t authorized to speak publicly about the company. Other employees said that they were weighing the money against the potential impact they could have at Meta in comparison to OpenAI. Several believed their impact would be greater at OpenAI.
“These statements are untrue – the size and structure of these compensation packages have been misrepresented all over the place,” says Meta spokesperson Andy Stone. “Some people have chosen to greatly exaggerate what’s happening for their own purposes.”
A senior engineer who spoke to WIRED confirmed their pay was around $850,000 per year at Meta—an impressive sum that pales in comparison to the packages currently on offer. Those in the pay band above this engineer (E7’s, in Meta terms) make on average $1.54 million a year, according to user data submitted on Levels.FYI.
Andrew Bosworth, chief technology officer at Meta, said that not everyone is getting a $100 million offer during a Q&A with employees last week. “Look, you guys, the market’s hot. It’s not that hot. Okay? So it’s just a lie,” he said. “We have a small number of leadership roles that we’re hiring for, and those people do command a premium.” He added that the $100 million is not a sign-on bonus, but “all these different things” and noted OpenAI is countering the offers.
As a point of comparison, Satya Nadella, CEO of Microsoft, received $79.1 million in total compensation in 2024, most of it in stock, according to a financial filing by the company. Dara Khosrowshahi, the CEO of Uber, made roughly $39.4 million (again, mostly in stock) the same year.
On Monday, Mark Zuckerberg sent a note to Meta staff introducing the new superintelligence team. Alexandr Wang, formerly the CEO of Scale AI, is now Meta’s chief AI officer, Zuckerberg said. He’s joined by Nat Friedman who previously led GitHub. Together, Wang and Friedman will colead an organization Zuckerberg dubbed the Meta Superintelligence Labs. The company did not name a chief scientist or a chief research officer as part of the announcement. Neither Wang nor Friedman are thought of as researchers, at least in the traditional sense. None of the OpenAI staffers who left for Meta received the $300 million offer, according to a source with knowledge of the contracts.
Meta Platforms CEO Mark Zuckerberg has been on an artificial intelligence spending blitz — and Wall Street does not seem to mind. Zuckerberg has invested tens of billions of dollars in computing infrastructure and research and development, and he’s worked tirelessly to implement AI across the internal organization and to enhance user engagement and ad targeting on Instagram and Facebook. In the latest phase of these efforts, Zuckerberg has ripped a page out of New York Mets owner Steve Cohen’s playbook and thrown huge amounts money at top AI talent to build out a “superintelligence” unit, with the goal of recruiting 50 top researchers in the field. Just how aggressive have these efforts been? In a note to clients on Tuesday, Bank of America estimated that Zuckerberg’s spending spree could add $1 billion in annual expenses, assuming 50 people at an average of $20 million in compensation. Yes, $1 billion. And yet, the Street has been willing to look past the jaw-dropping spending — and it’s not difficult to see why, considering the opportunity AI brings on both cost savings and revenue growth opportunities. The stock closed Monday at its first record high since mid-February, though we’re likely seeing some profit-taking in Tuesday’s overall down market. Between the close on Friday, June 6, and Monday, shares of Meta rose nearly 6% versus a 3.4% advance for the S & P 500. The June 6 date is relevant because over that weekend, Bloomberg News first reported that Meta was in talks to invest in Scale AI — the opening salvo in this spending spree. Zuckerberg is far from alone in the urgency and recognition of the opportunity. Consider what Club name Amazon’s chief executive, Andy Jassy, told Jim Cramer on Monday night on “Mad Money.” “I think that AI and generative AI specifically is the most transformative technology of our lifetime, which is saying a lot given we’ve had the internet, we’ve had mobile, we’ve had the cloud. But I think it’s going to end up being the most transformative technology of our lifetime. If your mission is to make customers’ lifetimes easier and better everyday — and if you believe it’s going to be the most transformative of our lifetime — you’re going to invest very expansively, which is what we’re doing, and you can see it everywhere.” The phrase “invest very expansively” stands out, in particular. Zuckerberg clearly agrees, writing in a memo to employees Monday : “As the pace of AI progress accelerates, developing superintelligence is coming into sight. I believe this will be the beginning of a new era for humanity, and I am fully committed to doing what it takes for Meta to lead the way.” In the same memo obtained by CNBC, Zuckerberg laid out the internal structure for AI research at Meta. At the highest level, the efforts fall under what is being called Meta Superintelligence Labs (MSL). Within MSL, Meta will house all of its “foundations, product, and FAIR [Fundamental AI Research] teams, as well as a new lab focused on developing the next generation of models.” One of the two people tapped to lead MSL is Alexandr Wang, the now-former CEO of Scale AI whose hiring earlier this month underscored Zuckerberg’s aggressiveness in hiring AI talent. Just days after that initial Bloomberg report, Meta officially invested more than $14 billion to acquire a 49% stake in ScaleAI — a move viewed by many as an “acquihire” because a key factor behind the move was bringing Wang on board. Wang will serve as Meta’s chief AI officer. The other co-leader of MSL is the recently hired Nat Friedman, CEO of GitLabs from 2018 to 2022. OpenAI CEO Sam Altman has also claimed that Zuckerberg, who has been personally involved in the hiring of AI talent, has offered up signing bonuses of as much as $100 million to poach top talent from leading AI organizations like his own. While there’s been some pushback on Altman’s claim , the general point stands: Zuckerberg has opened up the wallet. Bank of America’s estimate makes that clear. Additional new hires brought in to aide Meta’s AI efforts come from OpenAI, Google, and Anthropic and include. Here’s how Zuckerberg described the resumes of the hires in the memo obtained by CNBC: Trapit Bansal — pioneered RL on chain of thought and co-creator of o-series models at OpenAI. Shuchao Bi — co-creator of GPT-4o voice mode and o4-mini. Previously led multimodal post-training at OpenAI. Huiwen Chang — co-creator of GPT-4o’s image generation, and previously invented MaskGIT and Muse text-to-image architectures at Google Research. Ji Lin — helped build o3/o4-mini, GPT-4o, GPT-4.1, GPT-4.5, o4-imagegen, and Operator reasoning stack. Joel Pobar — inference at Anthropic. Previously at Meta for 11 years on HHVM, Hack, Flow, React, performance tooling, and machine learning. Hongyu Ren — co-creator of GPT-4o, 4o-mini, o1-mini, o3-mini, o3 and o4-mini. Previously leading a group for post-training at OpenAI. Johan Schalkwyk — former Google Fellow, early contributor to Sesame, and technical lead for Maya. Pei Sun — post-training, coding, and reasoning for Gemini at Google DeepMind. Previously created the last two generations of Waymo’s perception models. Jiahui Yu — co-creator of o3, o4-mini, GPT-4.1 and GPT-4o. Previously led the perception team at OpenAI and co-led multimodal at Gemini. Shengjia Zhao — co-creator of ChatGPT, GPT-4, all mini models, 4.1 and o3. Previously led synthetic data at OpenAI. “I’m optimistic that this new influx of talent and parallel approach to model development will set us up to deliver on the promise of personal superintelligence for everyone. We have even more great people at all levels joining this effort in the coming weeks, so stay tuned. I’m excited to dive in and get to work,” Zuckerberg wrote. While Zuckerberg clearly has no issue paying up for talent, the question is: At what point would investors start to take issue? As we saw in 2022, sometimes the market will recoil at aggressive spending. This time around, our belief is that as long as Meta can show material progress with updates to existing products and more capable large language models, Zuckerberg will continue to get the pass on AI spend. These investments have already delivered benefits to user engagement and ad targeting; in other words, they’ve made the core Family of Apps business better. However, its Llama large language model — which underpins its ChatGPT rival known as Meta AI — is now on its fourth version and has failed to impress. It’s lagging behind competing models from the likes of Google and OpenAI in third-party testing, according to the LMArena.ai leaderboard . Improving Llama is no doubt a key initiative of the new unit, and investors will want to see progress here as they evaluate the hefty spending. While it’s great to see Meta implement AI across the organization to the benefit of existing revenue streams, it is new revenue streams — stemming from AI initiatives like Llama — that will really get investors excited about the spend and propel shares higher over the long term. Another possibility: Meta’s AI-infused smart glasses, which are part of its Reality Labs division, stand to benefit from a more capable Meta AI model. As the model improves, we wouldn’t be surprised to see additional offerings, such as a premium Llama subscription and new tools for business customers. In the end, as is the case with all those pumping huge amounts into AI research, it comes down to the companies’ ability to monetize that research. Fortunately, Meta has plenty of optionality on this front, both in terms of additional cost savings internally, along with the proven ability to enhance existing products and build out new ones. (Jim Cramer’s Charitable Trust is long META and AMZN. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust’s portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. 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Barrick Mining Corp. and Komatsu have formalized a $440 million deal that will see the Japanese construction giant begin delivering electric and electrified mining equipment assets to the company’s Reko Diq copper-gold project in Pakistan.
When Komatsu announced its 400-ton PC4000-11E hydraulic mining excavator last year, you knew it was only a matter of time before the world’s largest mining operations — keen to decarbonize — would come knocking.
“The Reko Diq project represents a long-term investment in our future and that of mining in Pakistan, and our partnership with Komatsu is an important part of that vision,” explains Mark Bristow, Barrick president and CEO. “Komatsu equipment has proven its performance and reliability at our operations worldwide, and we are confident in its ability to support our goals at Reko Diq. We look forward to building on this strong relationship as we develop one of the world’s newest greenfield assets.”
Big spending, bigger savings
P&H 4100XPC AC electric rope shovel and haul truck, via Komatsu.
The new electric drives featured in the 409 ton Komatsu PC4000-11E (at top) and Komatsu-owned P&H grid-connected electric rope shovel (above) are designed to reduce job site emissions by up to 95%. And, when paired the Komatsu Trolley Truck Assist System, the company says its new hydraulic excavator can offer a 50% savings in the total cost of ownership compared to a similar, conventional Tier 4 diesel drive equipment.
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That 50% number? It’s not just a projection – It’s backed by real-world data. Komatsu says customers using the PC4000-11E in pilot programs have already realized 47% savings in total cost of ownership.
The fully automatic cable drum is designed for easier operation of the electrically driven excavator in backhoe configuration. The automatic winding of the cable makes maneuvering in the pit significantly easier and saves time. Simplified electric machine control enables fast troubleshooting and maintenance of the electrical system and contributes significantly to increasing the overall availability of the machine and helping our customers work toward achieving the highest safety standards.
KOMATSU
“We see ourselves as partners to our customers, supporting and collaborating with them on their journey toward a more sustainable and efficient mining operation,” explains Peter Buhles, Vice President Sales and Service, Komatsu Germany GmbH – Mining Division. “We are looking forward to meeting everyone in person at our booth and showcasing our latest technical solutions for hydraulic mining excavators.”
Barrick Mining’s order includes an undisclosed mix of assets that includes a number of ultra-class haul trucks, mining excavators, rope shovels, and wheel loaders. Barrick will begin receiving the first examples of its new Komatsu mining machinery at its Pakistani operations in early 2026.
Electrek’s Take
980E electric haul truck; via Komatsu.
With billions of dollars on the line and pressure to reduce carbon emissions coming from all sides, it should come as no surprise that the race is on to bring practical, electric, and even autonomous heavy mining equipment to market. At CES 2024, electric equipment from Hyundai, Bobcat, Volvo CE, Caterpillar, and others garnered lots of attention with their innovative concepts, and analysts like IDTechEx estimate that a single 150-ton haul truck can use over $850,000 worth of fuel in a single year.
Meanwhile, big electric locomotives like the Fortescue Infinity Train can, in certain use cases with high amounts of regenerative braking, operate without any significant cost to recharge. At that point, the reduced maintenance and downtime of BEVs compared to diesel vehicles becomes icing on the TCO cake.
SOURCE | IMAGES: Barrick Mining, via Heavy Equipment Guide.
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(Bloomberg) — A rally that drove stocks to all-time highs wavered and bond yields rose as an unexpected increase in job openings dimmed the outlook for Federal Reserve rate cuts, with Chair Jerome Powell reiterating his wait-and-see stance amid the threat of tariffs.
While most shares in the S&P 500 gained, the index barely budged amid a slide in technology – which powered the market last quarter. A gauge of the “Magnificent Seven” megacaps lost 1.3%. Tesla Inc. sank 5% as President Donald Trump threatened to withdraw subsidies from Elon Musk’s companies and examine the billionaire’s immigration status. The Russell 2000 rose 1.3%.
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Short-dated Treasuries, which are more sensitive to imminent Fed moves, underperformed longer maturities. The dollar halted a slide that drove the currency to the weakest since 2022.
US job openings hit the highest since November, largely fueled by leisure and hospitality, and layoffs declined. Powell and other policymakers have consistently characterized labor-market conditions as strong in recent weeks.
“As long as the labor market remains solid, the US economy can continue to chug ahead, while helping reduce the risk of stagflation” said Bret Kenwell at eToro. “It would also buy the Fed more breathing room when it comes to interest rates.”
Speaking Tuesday during a panel in Portugal, Powell repeated that the central bank probably would have cut rates further this year absent Trump’s expanded use of tariffs. Still, when asked if July were too soon for a rate cut, Powell didn’t rule out the possibility.
Meantime, Trump’s $3.3 trillion tax and spending cut bill passed the Senate after a push by Republican leaders to persuade holdouts to back the legislation.
The government’s June employment report, due Thursday, is expected to a show a slowdown in nonfarm payroll growth and an uptick in the unemployment rate.
“Federal Reserve interest-rate policy is likely on hold for now,” said Josh Hirt at Vanguard. “If the labor market remains on the trajectory we expect, the Fed can afford to be patient. We anticipate the Fed will be able to make two more rate cuts later this year in this environment.”
A July rate cut is viewed as a long shot, but swap contracts assign it about 15% odds versus near zero last mont. A quarter-point cut is fully priced in for September.
Separate data Tuesday showed US factory activity contracted in June for a fourth consecutive month as orders and employment shrank at a faster pace, extending the malaise in manufacturing.
“While the hit to manufacturing activity from tariffs so far appears to have been limited, the further small rise in the prices paid index last month adds to evidence that firms are facing higher costs as a result,” said Thomas Ryan at Capital Economics.
Corporate Highlights:
Shares for solar companies rose on Tuesday on the Senate’s decision to remove an excise tax on wind and solar projects from President Donald Trump’s tax and spending bill.
Tesla Inc. Chief Executive Officer Elon Musk has assumed oversight of sales in Europe and the US, leaving deputy and senior vice president Tom Zhu over Asia, following the high profile departure of Omead Afshar, people familiar with the matter said.
Boeing Co. said Stephen Parker will oversee the defense, space and security unit on a permanent basis, as Chief Executive Officer Kelly Ortberg molds his top leadership team, including the appointment of a new chief financial officer.
Ford Motor Co.’s electric vehicle sales plunged 31.4% in the second quarter after the automaker ordered dealers not to sell its battery-powered Mustang Mach-e model due to a safety flaw that could lock occupants in the car.
UnitedHealth Group Inc. and Memorial Sloan Kettering Cancer Center resolved a contract dispute that threatened to interrupt treatment for thousands of cancer patients in the New York City area.
AMC Entertainment Holdings Inc. said it reached an agreement with a majority of bondholders to end litigation that resulted from the movie theater chain’s debt restructuring last year.
Wolfspeed Inc., a chipmaker caught in President Donald Trump’s push to reshape Biden-era tech subsidies, filed bankruptcy to enact a creditor-backed plan to slash $4.6 billion in debt.
Macau’s monthly gaming revenue rose 19% in June, exceeding analyst expectations as visitors poured in to the world’s biggest gambling hub for Cantonese pop concerts and other entertainment offerings.
AstraZeneca Plc’s Chief Executive Officer Pascal Soriot wants to move the drugmaker’s stock listing to the US, the Times reported, in what would be another sign of the UK’s waning status as a magnet for global capital.
Some of the main moves in markets:
Stocks
The S&P 500 was little changed as of 2:27 p.m. New York time
The Nasdaq 100 fell 0.7%
The Dow Jones Industrial Average rose 1%
The MSCI World Index was little changed
Bloomberg Magnificent 7 Total Return Index fell 1.3%
The Russell 2000 Index rose 1.3%
Currencies
The Bloomberg Dollar Spot Index was little changed
The euro was little changed at $1.1778
The British pound was little changed at $1.3734
The Japanese yen rose 0.2% to 143.72 per dollar
Cryptocurrencies
Bitcoin fell 1.5% to $105,951.23
Ether fell 3.2% to $2,423.54
Bonds
The yield on 10-year Treasuries advanced three basis points to 4.25%
Germany’s 10-year yield declined three basis points to 2.57%
Britain’s 10-year yield declined three basis points to 4.45%
Commodities
West Texas Intermediate crude rose 0.5% to $65.41 a barrel
British High Street bank TSB is being sold off by its Spanish-owner to rival Santander in a deal worth up to £2.9bn.
The sale still has to be agreed by Sabadell’s shareholders, but if TSB does change hands, it will be the second time it has been sold in a decade.
Santander declined to comment on whether the TSB brand – which can trace its roots back more than 200 years – will remain.
TSB has 175 branches in the UK while Santander has around 349 banks in Britain, but it has been shutting branches, saying more customers want to do their banking digitally.
DLA Piper advised Cantor Fitzgerald & Co., as sole book-running manager, in the US$253 million initial public offering of Oxley Bridge Acquisition Limited.
Oxley Bridge Acquisition Limited is a blank check company formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses.
The deal team was led by Partner Stephen Alicanti (New York) and included Of Counsel Christie Lehr (Raleigh) and Associates Andrew Wolfe and Alexander Grynszpan (both New York).
DLA Piper’s global capital markets team represents issuers and underwriters in registered and unregistered equity, equity-linked and debt capital markets transactions, including initial public offerings, follow-on equity offerings, equity-linked securities offerings, and offerings of investments grade and high-yield debt securities.