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19h ago

Meta Beats Q2 Estimates as Zuckerberg Charts Shift to Closed Personal Superintelligence

Meta is using ad-business windfall to power massive AI infrastructure alongside a new Superintelligence Labs division that will deploy controlled models for individual users.

Mark Zuckerberg, chief executive officer of Meta Platforms Inc., wears Orion augmented reality (AR) glasses during the Meta Connect event in Menlo Park, California, US, on Wednesday, Sept. 25, 2024. Meta Platforms Inc. debuted its first pair of augmented reality glasses, devices that show a combined view of the digital and physical worlds, a key step in Chief Executive Officer Mark Zuckerberg's goal of one day offering a hands-free alternative to the smartphone.
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© Bloomberg / Getty Images
Mark Zuckerberg has published his AI manifesto.

Overview

  • Meta’s Q2 revenue reached $47.5 billion, up 22% year-over-year, and profit climbed 36% to $18.3 billion, both surpassing analysts’ forecasts and sending shares higher after hours.
  • Daily active users rose 6.4% year-over-year to 3.48 billion, reinforcing the strength of Meta’s core advertising business.
  • The company invested $17 billion in AI infrastructure during the quarter and projects full-year capital expenditures of $72 billion as it builds multi-gigawatt Prometheus and Hyperion compute clusters.
  • Mark Zuckerberg’s manifesto outlined a “personal superintelligence” aimed at empowering individuals and signaled a move toward keeping future AI models more closed to manage risks and protect its business model.
  • Reality Labs posted a $4.53 billion loss in Q2, while Meta Superintelligence Labs under Alexandr Wang has been created to recruit elite AI talent and accelerate next-generation model development.