Meta (NASDAQ: META), the company best known for Facebook, has been a household name for a long time. But its recent commitment to AI has been largely overlooked. That’s great news for investors hoping to get in on the AI gold rush, because the company is going all-in. Here are just three reasons to drop your preconceptions and give Meta a serious look.

1. The Transition Is Going Smoothly

Meta’s virtual reality gamble didn’t quite pay off as expected, leaving a lot of people doubtful about the company’s ability to innovate in ways that the public wants. However, the AI transition is going a lot more smoothly. AI technology is expensive, but Meta has plenty of money to throw at it. The company has already rolled out Meta AI and seamlessly integrated it with both Facebook and Instagram, and it continues to refine its AI offerings.

2. Their Ad Business Is Booming

Facebook is the most popular social media platform across the world. Meta also owns the third, fourth, and seventh most popular platforms. More than 3 billion people use Meta’s social media each day, and the number continues to climb. This means a lot of eyeballs on Meta ads. Ad revenue accounts for nearly all the company’s bottom line, and it’s doing well. In fact, Meta saw a YOY jump in ad impressions of 20% last quarter, as well as a 6% increase in ad pricing.

3. Their Stock Is Affordable

Meta’s stock price hasn’t yet caught up with its competitors, especially those in the AI space. Despite incredible earnings and sustained growth, Meta is still trading at a price-to-earnings ratio (P/E) of just 28. This makes it an excellent buy, as well as great way to jump into the booming AI market without breaking the bank.

Lisa Fritscher does not have positions in this company. Stocks.News has positions in Meta.