Meta plans $65bn spending this year to power AI goals
CALIFORNIA, 3 days ago
Meta Platforms plans to spend as much as $65 billion this year to expand its AI infrastructure, reported Reuters, citing its CEO Mark Zuckerberg.
The investment aims to bolster the company's position against rivals OpenAI and Google in the race to dominate the technology, Reuters reported.
As part of the investment, Meta will ramp up hiring for artificial intelligence roles and build a more than 2-gigawatt data centre that would be large enough to cover a significant part of Manhattan, it stated.
The company - among the top buyers of Nvidia's sought-after AI chips - aims to end the year with over 1.3 million graphics processors and plans to bring about 1 GW of computing power online in 2025.
"This will be a defining year for AI," Zuckerberg said in a Facebook post. "This is a massive effort, and over the coming years it will drive our core products and business," he added.
Big technology firms have been investing tens of billions of dollars to develop AI infrastructure after the success of OpenAI's ChatGPT, said the Reuters report.
Meta's announcement comes just days after US President Donald Trump announced that OpenAI, SoftBank and Oracle will form a new venture called Stargate and invest $500 billion in AI infrastructure across the US.
