Meta Spending to Soar on AI, Massive Data Center

Mark Zuckerberg announced a huge leap in Meta Platforms’s capital spending this year to between $60 billion to $65 billion, an increase driven by artificial intelligence and a massive new data center.

The plan to increase the company’s capital expenditures by as much as roughly 70% over 2024 comes days after tech rivals including OpenAI unveiled a $500 billion spending plan backed by President Trump called Stargate.