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technology1d ago
Meta's CMO says Big Tech's soaring spending on AI is 'aggressive, but not crazy'
- Meta plans to spend up to $72 billion on AI infrastructure this year, with higher spending anticipated next year.
- Alex Schultz says the AI wave is productive for energy discussions and business growth, not a bubble.
- Schultz says Meta’s AI-driven enhancements improve advertising tools and content ranking algorithms.
- The Vibes feed, an AI-generated video product, is seen as a potential major future component for Meta.
- Schultz argues that Meta's AI investments are not a classic bubble when compared to past tech booms.
- Schultz emphasizes that AI investments are already translating into billions in revenue for Meta.
- Meta expects around $200 billion in revenue for the year, with a market cap near $1.5 trillion.
- Schultz highlights the pivot to AI-driven content recommendations as essential for user engagement.
- Schultz notes that energy and computing demands rise with video-generation models but downplays environmental concerns.
- Schultz calls for a balanced view of AI growth, highlighting productive debates and cautious optimism.
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