Somewhat atypically, Meta Platforms (META 2.54%) stock rose higher on Thursday because of a potential acquisition. The social media giant, not typically known for being an aggressive asset buyer, saw its shares close more than 2% higher as a result. This was on a day when the S&P 500 index could only muster an 0.8% rally.

Not Playing around

It helps greatly that the apparent acquisition target concentrates on artificial intelligence (AI), the hot technology of our age. On Thursday, Bloomberg, citing unnamed "people familiar with the matter," wrote that Meta was close to acquiring privately held PlayAI, a niche company specializing in AI voice replication technology.

Image source: Getty Images.

In the article, which was disseminated in other media outlets, Bloomberg said that its PlayAI play was a component of Meta's strategy to advance its AI capabilities and offerings. When and if a deal is reached for the company, Meta would bring at least some PlayAI into its workforce.

The story did not detail any financial particulars of the potential acquisition.

Neither Meta nor PlayAI has provided an official response to the Bloomberg article.

Easily affordable

With its vast financial resources -- it held over $70 billion in cash and cash equivalents alone at the end of its most recently reported quarter -- Meta can pay handsome premiums for assets it desires. Given that, it's believable that if it truly is interested in PlayAI, it's making the company a compelling buyout offer.

The impact of a potential acquisition is a bit tougher to gauge. PlayAI is an AI company, yes, and that'll get investors excited simply on that basis. Voice recognition is a fairly niche (albeit useful) technology, so I don't think this apparently looming deal will be a ground shifter on its own. It's worth watching Meta's other moves in the AI sphere, though, to gauge how it plans to leverage the technology.