Even Mark Zuckerberg seems surprised by Meta’s pace of spending on AI

CNBC October 31, 2024
Jonathan Vanian

Key Points

– Meta has been so quick to build out its massive data center and computing infrastructure for AI that even CEO Mark Zuckerberg is a bit surprised.

– Meta raised the low end of its capital expenditures guidance for 2024 to $38 billion from $37 billion.

– The stock slid after hours even though the company reported better-than-expected third-quarter results.

Meta has been so quick to build out its massive data center and computing infrastructure for artificial intelligence projects that CEO Mark Zuckerberg is even a bit surprised.

In a call with analysts on Wednesday after Meta’s third-quarter earnings report, Zuckerberg explained to investors how Meta’s rising costs for the year are tied to the speed at which...

Today's Sponsors

Today's Sponsor