California governor Gavin Newsom has vetoed a controversial attempt to regulate artificial intelligence, citing concerns that the bill could stifle innovation after intense pressure from tech companies.

The report breaks the investment opportunity into three layers: (1) the enabling layer, (2) the intelligence layer, and (3) the application layer. Listed below are three brilliant AI stocks (one for each layer) that billionaires were buying in the second quarter.

As of the end of the second quarter, Meta had nearly 3.3 billion daily active users (DAUs). That's a huge advantage for the company in many ways, but consider this: Meta is in a position to introduce its AI-powered features to roughly 40% of the world's population.