Facebook: Meta invests at least $135 billion in AI
Facebook founder Mark Zuckerberg is having the Meta group invest huge sums in AI infrastructure. The money for this is supposed to come from the booming advertising business.
Meta, the parent company of Facebook, is set to invest at least $135 billion in expanding its artificial intelligence (AI) infrastructure this year. The tech giant has increased its spending estimate by $5 billion, with CEO Mark Zuckerberg aggressively expanding AI data centers to compete with industry leaders such as OpenAI, developers of ChatGPT.
Meta's flagship investment in AI accounts for $145 billion, driven primarily by the company's booming advertising business. In the most recent quarter, Meta's earnings surged 26% year-over-year to $64.6 billion, marking a profit of $9.86 billion, a significant turnaround from a loss of $2.7 billion the previous year.
The company's AI investments are supported by the fact that over 3.64 billion users accessed at least one of Meta's apps in the latest reporting period, a figure that remained steady at 3.6 billion just three months prior. The Meta family also includes popular messaging apps WhatsApp and Instagram, as well as Threads, a competing platform to Twitter's successor, X.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- Quarterly figures: Meta invests at least $135 billion in AI handelsblatt.com
