Meta CEO Mark Zuckerberg explained on the earnings call how the speed of Meta’s AI technology buildout led the company to lift guidance for capex.
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.
"Going into the year, we had a range for what we thought we could potentially do, and we've been able to do more than we've kind of hoped and expected at the beginning of the year," Zuckerberg said. "It's actually something that I'm quite happy that the team is executing well on," Zuckerberg said."That execution makes me somewhat more optimistic that we're going to be able to keep on building this out at a good pace."Meta shares dipped in extended trading on Wednesday despite the company beating on earnings and revenue. Weaker-than-expected user growth was part of the concern, along with rising costs.
On the earnings call, Barclays analyst Ross Sandler asked Zuckerberg how quickly Meta can build the immense computing infrastructure needed to reach its goals around generative AI, given possible barriers likeZuckerberg responded by complimenting Meta's infrastructure team, which he said was"executing quite well" in building out more computing capacity for various AI projects like thein July with Bloomberg, telling Emily Chang that there's a chance that companies...
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