Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Monday, June 2nd, and I'm your host, Kim Kong. Our top story so far, meta platform's plans to let brands create and target ads fully through AI by the end of next year.

The Wall Street Journal says META's ad platform already offers some AI tools that can generate

variations of existing ads and make small changes to them before targeting the ads to users

on Facebook and Instagram.

But now the company intends to help brands create advertising concepts.

Using the ad tools meta as developing, a brand could present an image of a product

that plans to promote with a budgetary goal, and AI would make the entire ad, including images,

video, and text.

The system would then decide which Instagram and Facebook users to target and offer suggestions on budget.

In addition, meta intends to let advertisers personalize ads using AI so that users see different

versions of the same ad in real time based on factors like location.

But the report added that some large brands are concerned about providing meta even more

control over their advertising efforts due to the company's presence in the business and worry

that AI-generated ads would not have the same look and feel as human-made ads.

Also in the AI sector, two players are looking to raise cash.

Nebius entered into an agreement for the private placement of senior unsecured convertible notes totaling $1 million.

The offering has two tranches, a 500 million two percent offering due

2029 and a 500 million three percent offering due 2031. Nebius expects to use the

proceeds for general corporate purposes, the company said in a filing. And Big Bear AI

disclosed that it entered into an agreement with Cantor Fitzgerald to sell up to $150

million in an at-the-money stock

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