Zuckerberg sets Meta’s AI targets for the year, expects to spend $60 billion on growth

dead CEO Mark Zuckerberg announced Friday that the company plans to invest about $60 billion to $65 billion in capital expenditures in 2025 as it continues to build artificial intelligence Infrastructure.

Zuckerberg said that 2025 will be a “defining year for AI” and that Meta is building a large data center that will “cover a good portion of Manhattan” to power its AI offerings. Additionally, the Meta will bring about 1 gigawatt of compute and will end the year with more than 1.3 million GPUs.

“This is a tremendous effort, and over the coming years it will advance our core products and businesses, unleash historic innovation, and expand America’s technological leadership,” Zuckerberg wrote in his article. job On Facebook.

Meta shares closed at $647.49 on Friday, a new all-time high following the announcement.

The company has been flowing Billions of dollars The field of artificial intelligence and related research and development have intensified in recent years, but it is a highly competitive market and it will take some time before investors begin to reap these benefits. In an April call with investors, Zuckerberg said he expected to see “Multi-year investment cycle” before Meta’s AI products expanded into profitable services, but he also noted that the company has a “proven track record” in that department.

Meta shares fell 16% in that time. The company still generates the vast majority of its revenue from digital advertising.

Zuckerberg said on Friday that he expects the company’s Meta AI digital assistant to become “the leading assistant serving more than a billion people.” Zuckerberg added that Meta is also working on building an AI engineer who will contribute “increasing amounts of code to our R&D efforts.”

“We have the capital to continue investing in the years ahead,” he wrote in his Facebook post.