Meta is making a massive investment in AI because “we have a conviction that superintelligence is going to improve every aspect of what we do,” Mark Zuckerberg told investors.
Meta teased new ad optimization offerings as it touted solid Q1 results. It also hyped its AI agents and its launch of a standalone AI app, while hinting at monetization opportunities.
Slap on your Ray-Ban smart glasses, ask Meta AI to remind you to post on Threads and then hop into Horizon Worlds. Welcome to the near future, according to Meta.
Meta’s capex in 2024 will clock in somewhere between $38 billion and $40 billion, roughly $1 billion more than previously anticipated. Where’s most of that money going? AI, of course.
Meta’s stock jumped by nearly 7% in after-hours trading on Wednesday based on strong results, including $39.1 billion in total Q2 revenue.
Meta’s shares surged by nearly 15% after reporting Q4 earnings on Thursday. It was the company’s fourth consecutive quarter of revenue growth, following a dismal 2022.
What happens when a Big Tech CEO gets on an earnings call these days? They talk about AI. AI will be Meta’s “biggest investment area” in 2024, CEO Mark Zuckerberg told investors during the company’s Q3 earnings call.
2022 was a no good, very bad year for Meta’s stock. It was the year that Meta reported its first-ever revenue decline – yet shares soared by more than 30% in after-hours trading on Wednesday following Meta’s Q4 2022 earnings report.
