Meta Platforms is set to release the largest version of its open-source Llama 3 model on July 23. The Llama 3 405B model, boasting 405 billion parameters, will feature multimodal capabilities, allowing it to understand and generate both images and text. This release comes about a year after the announcement of Llama 2. The model is expected to significantly advance AI capabilities and is part of Meta's broader strategy to support multiple Llama releases, including models specific to agents. The announcement has generated considerable anticipation within the AI community.