Meta’s Zuckerberg Touts AI Progress but Warns of ‘Serious Infrastructure’
SMRTR summary
Meta reported record revenues of $40.6 billion in Q3, up 19% year-over-year, driven by strong advertising growth. The company plans significant investments in AI infrastructure, with 2024 capital expenditures projected at $38-40 billion. Meta AI now has over 500 million monthly active users, while Threads has grown to 275 million monthly active users.
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