Meta Platforms (META) is reorganizing its artificial intelligence teams to speed up product development, Axios reported Tuesday, citing an internal company memo by Chief Product Officer Chris Cox.

The new structure splits the current setup into an AI Products team and an AGI Foundations team.

Connor Hayes will lead the AI Products team, which will be responsible for the Meta AI assistant, AI Studio, and AI tools across Facebook, Instagram, and WhatsApp, the media outlet reported.

The AGI Foundations team, co-led by Ahmad Al-Dahle and Amir Frenkel, will focus on the Llama models and improving AI in reasoning, multimedia, and voice, according to Axios.

Meta's core AI research group, Fundamental AI Research, will remain separate, though one multimedia team is being transferred to the AGI unit.

No job cuts or executive departures are part of the changes, but some leaders have been reassigned internally, Axios reported.

Meta did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 642.43, Change: +15.37, Percent Change: +2.45