Meta Platforms isn’t backing down in the artificial intelligence arms race. The company is all in. On Friday, Meta CEO Mark Zuckerberg said his company is planning to invest $60 billion to $65 billion in capital expenditures this year while growing the size of the company’s AI teams “significantly.

Meta CEO Mark Zuckerberg said the company plans to up its capital expenditures in 2025 as it aims to keep pace with rivals in the AI space.

Mark Zuckerberg has announced a new spending plan for Meta that includes building an “AI engineer” to help with coding.

Meta CEO Mark Zuckerberg said his company will spend up to $65 billion as it looks to "significantly" grow its artificial intelligence team

Meta CEO Mark Zuckerberg has announced plans to invest as much as $65 billion in artificial intelligence (AI) this year. The massive investment comes as part of a broader strategy to push the company's AI efforts.

The Meta chief wrote in a post on Workplace, the company's internal forum, that the company will be doing "more extensive performance-based cuts."

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.

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

Meta CEO Mark Zuckerberg announced the company plans to invest around $60 to $65 billion in capital expenditure this year