The $60 to $65 billion in projected capital expenditures this year is more than double the $27 billion Meta spent in 2023.

Meta Platforms Inc. plans to invest as much as $65 billion on projects related to artificial intelligence in 2025, including building a giant new data center and increasing hiring in AI teams, Chief Executive Officer Mark Zuckerberg said Friday.

By Jaspreet Singh (Reuters) -Meta Platforms plans to spend as much as $65 billion this year to expand its AI infrastructure, CEO Mark Zuckerberg said on Friday, aiming to bolster the company's position against rivals OpenAI and Google in the race to dominate the technology.