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July 10 (Reuters) - Meta Platforms' (META.O) Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone. The app's sprint to 100 million users was much speedier than that of OpenAI-owned ChatGPT, which became the fastest-growing consumer application in history in January about two months after its launch, according to a UBS study. Mastodon has about 7.7 million total users, although fewer than 2 million of them actively use the service, according to daily user counts it provides. [1/2]Meta Threads app logo is seen in this illustration taken, July 6, 2023. Currently, there are no ads on the Threads app and Zuckerberg said the company would only think about monetization once there was a clear path to 1 billion users.

Persons: Mark Zuckerberg, dethroning ChatGPT, Zuckerberg, Matthew Prince, Dado Ruvic, Jack Dorsey, Musk, Adam Mosseri, Meta, Katie Paul, Akash Sriram, Zaheer Kachwala, Sriraj Kalluvila, Rashmi Aich, Nick Zieminski Organizations: Elon Musk, UBS, Twitter, REUTERS, Meta, Thomson Locations: New York, Bengaluru

[1/2] Meta Threads app logo is seen in this illustration taken, July 6, 2023. REUTERS/Dado Ruvic/IllustrationJuly 10 (Reuters) - Meta Platforms' (META.O) Twitter rival Threads crossed 100 million sign-ups within five days of launch, CEO Mark Zuckerberg said on Monday, dethroning ChatGPT as the fastest-growing online platform to hit the milestone. "That's mostly organic demand, and we haven't even turned on many promotions yet," Zuckerberg said in a Threads post announcing the milestone. The app's sprint to 100 million users was much speedier than that of OpenAI-owned ChatGPT, which became the fastest-growing consumer application in history in January about two months after its launch, according to a UBS study. Currently, there are no ads on the Threads app and Zuckerberg said the company would only think about monetization once there was a clear path to 1 billion users.

Persons: Dado Ruvic, Mark Zuckerberg, dethroning ChatGPT, Zuckerberg, Matthew Prince, Musk, Adam Mosseri, Meta, Katie Paul, Akash Sriram, Zaheer Kachwala, Sriraj Kalluvila, Rashmi Aich, Nick Zieminski Organizations: REUTERS, Elon Musk, UBS, Twitter, Meta, Thomson Locations: New York, Bengaluru

"At this point, we are no longer behind in building out our AI infrastructure," Zuckerberg said on a conference call. AI recommendations increased time spent on Instagram by 24% in the January-March quarter, Meta said. Reuters GraphicsCOST CONTROLSpending on the AI retooling has spiked the company's capital expenditures, which came in slightly under expectations at $7.1 billion for the quarter. "We've been focusing on both AI and the metaverse for years now, and we will continue to focus on both." Revenue for the first quarter rose 3% to $28.65 billion, beating an average estimate of $27.66 billion.

The company said its expenses for the year may be lower than it had forecast in March. Spending on the AI retooling has spiked the company's capital expenditures, which came in slightly under expectations at $7.1 billion for the quarter. Analysts had forecast $7.2 billion in capital expenditures in the quarter, based on the company's annual forecast of $30 billion to $33 billion, which it kept unchanged. Net profit for the first three months of the year fell to $2.20 per share from $2.72 a year earlier, but beat expectations of $2.03 a share. Revenue for the first quarter rose 3% to $28.65 billion, beating an average estimate of $27.66 billion.

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