Mark Zuckerberg Says Meta Will Build 'Most Popular' And 'Most Advanced' AI Products: 'And If We Succeed…'
Portfolio Pulse from Ananya Gairola
During Meta Platforms Inc.'s Q4 2023 earnings call, CEO Mark Zuckerberg announced the company's goal to develop the most popular and advanced AI products and services. He emphasized the creation of world-class AI assistants for users, AI tools for creators, businesses, and developers, and the need for new computing devices like smart glasses. Zuckerberg highlighted Meta's long-term commitment to general intelligence research and the expansion of GPU clusters to support AI services. Meta reported a Q4 revenue of $40.11 billion, a 25% increase year-over-year, surpassing expectations. The company anticipates Q1 revenue between $34.5 billion and $37.0 billion and expects growing infrastructure investments for AI research and development.
February 02, 2024 | 4:23 am
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Meta Platforms Inc. aims to develop leading AI products and services, with a significant Q4 revenue increase and plans for infrastructure investment to support AI development.
Mark Zuckerberg's announcement of Meta's focus on developing advanced AI products and services, along with the reported revenue increase and future investment in AI infrastructure, suggests a positive outlook for Meta's stock. The company's surpassing of revenue expectations and commitment to AI could attract investor interest, potentially driving up the stock price in the short term.
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