The new system is expected to be as powerful as the most advanced ChatGPT AI model developed by OpenAI, the newspaper said.

The new AI model is aimed at helping other companies to create networks that perform complicated text and analytic tasks. Meta is currently constructing new centers for data processing to maintain the new AI, as well as purchases more H100, the advanced Nvidia chip, used for such operations.

The new AI is expected to be ready by the next year and to be many times more powerful than previous Meta's AI model, Llama 2.

Facebook Inc. rebranded itself as Meta in October 2021 during its push into the so-called metaverse, which augments reality with its vision of work and play in a virtual world.

Meta products include social media platforms Facebook and Instagram, as well as messaging app WhatsApp.

(With UNI inputs)