Mark Zuckerberg has outlined three strategies for Meta Platforms Inc. (NASDAQ:META) to monetize its substantial investments in artificial intelligence (AI.)
What Happened: Zuckerberg, during the March 2024 quarter earnings call, expressed his confidence in Meta’s AI capabilities, particularly with the launch of Llama 3, the company’s latest AI model.
He stated that Meta will “invest significantly more over the coming years to build even more advanced models and the largest scale AI services in the world.”
Despite the substantial costs associated with this ambition, Meta plans to increase its capital expenditure for this year to $35 billion to $40 billion, primarily for AI investments. This announcement resulted in a 16% stock drop in after-hours trading.
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