Meta continues to insist AI spend is totally justified, potentially blowing over $8 billion on data centers
Meta reported a record second-quarter revenue of $60.80 billion, but its shares are down due to significant investments in AI infrastructure and Reality Labs. The company plans to spend between $130 billion and $145 billion on AI this year, with CEO Mark Zuckerberg highlighting AI's positive impact on advertising revenue and potential for enterprise services.
- Entities
- Person: Susan Li
- Topic: Artificial Intelligence
- Topic: Augmented Reality
- Company: Meta
- Topic: Advertising
- Topic: Data Centers
- Person: Mark Zuckerberg
- Topic: Virtual Reality
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