07:27 AM EDT, 07/18/2024 (MT Newswires) -- Meta Platforms ( META ) plans to withhold its multimodal Llama artificial intelligence model and future versions from European customers due to the European Union's "unpredictable" regulatory environment, Axios reported Wednesday, citing a statement from the company.

According to Axios, Meta said the move means that European companies will be unable to use Llama even under an open license and could prevent overseas companies from offering in Europe their products and services that use the new multimodal models.

Axios further reported that Meta plans to release a larger, text-only Llama 3 model soon, which will also be available in Europe.

Meta Platforms ( META ) did not immediately respond to MT Newswires' request for comment.

(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.)

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