Profit was $12.4 billion, up from $5.7 billion a year earlier.
“It’s been a good start to the year,” said Mark Zuckerberg, Meta’s chief executive, referring to the company’s A.I.
efforts and “healthy growth across our apps.”But Meta’s efforts on A.I., which require substantial computing power, come with a lofty price tag.
The Silicon Valley company said it planned to raise its spending forecast for the year to $35 billion to $40 billion, up from a previous estimate of $30 billion to $37 billion.
infrastructure, including data centers, chip designs and research and development costs.
Persons:
“ It’s, ”, Mark Zuckerberg
Organizations:
Revenue, FactSet
Locations:
A.I