Meta is playing the AI game with house money

The hiring madness of Mark Zuckerberg AI costs a lot of money. Its investors don’t care.

Meta’s equity price increased by more than 10% on Wednesday after the company declared better than expected profits. The revenues generated in the second quarter were $ 47.5 billion, up 22% compared to a year ago. Daily users on Facebook, Instagram, Threats and WhatsApp have reached nearly 3.5 billion. Meta also warned Wall Street that she would spend more in data centers and would hire next year. In response to all this, the company’s assessment increased by more than $ 175 billion, or more than 12 AI transactions on a scale.

“Our company continues to perform very well, which allows us to invest massively in our AI efforts,” said Zuckerberg when today’s results call. The Meta Cash cannon is now entirely pointed out by its new moon moons for the achievement of superintelligence, or as it says, which “goes beyond human intelligence in all ways”. He boasted of providing the richly paid members of his new superintelligence laboratory “access to an unrivaled calculation” for the formation of new models which “will push the next border in about a year”.

Last Monshot of Zuckerberg was the metavese, which only appeared once at the very end of the winning call today. It is too early to compare the two projects, but they share a key similarity: they need the type of financing that only a company like Meta can provide.

However, where AI differs from the metavers, it is that it already seems to improve Meta’s advertising activity. A new AI model for the broadcasting of announcements has resulted in approximately five percent of additional Facebook and three percent conversions of additional conversions on Instagram, according to the director Susan Li. Large languages models also begin to fuel the way publications are classified in the flows between the applications of the company, including threads.

Although Meta still spends a lot on the Metaverse (he is on the right track to spend a total of $ 100 billion for his reality laboratory division this year), there is no doubt that AI is officially the absolute priority of Zuckerberg. This time, however, he plays catching up in a heated race, not trying to invent a new platform from zero. The stakes are much higher, even if he plays the game with money at home.