Target to increase spending to $65 billion this year in AI push
Mark Zuckerberg spent all of 2024 telling investors that artificial intelligence would be key to the future of his company, Meta. In 2025, he plans to put his money where his mouth is.On Friday, Zuckerberg said the company expects its capital expenditures in 2025 to be about $60 billion to $65 billion, a big increase from the roughly $38 billion to $40 billion Meta spent in 2024.Much of that amount will go toward building and expanding data centers, the warehouse-sized buildings that provide the computing power that powers Meta's products and artificial intelligence algorithms in its apps, including Facebook, Instagram and WhatsApp.“This is a massive effort that will propel our core products and businesses, unlock historic innovations, and extend America's technology leadership over the ne...