Particle.news
Download on the App Store
69 ARTICLES
·
16h ago

Meta Stock Jumps on AI-Fueled Ad Beat and Higher Spending Outlook

Investor optimism surged after Meta attributed its revenue beat to AI-driven advertising following its capital spending forecast increase.

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.
Image
© Bloomberg / Getty Images
Mark Zuckerberg has published his AI manifesto.

Overview

  • Meta forecast third-quarter revenue of $47.5 billion to $50.5 billion, surpassing analysts’ $46.15 billion estimate and lifting shares over 10%.
  • The company raised the lower bound of its 2025 capital expenditure guidance by $2 billion to a range of $66 billion–$72 billion.
  • CEO Mark Zuckerberg said Meta has observed “glimpses of our AI systems improving themselves” and that developing superintelligence is now in sight.
  • Meta Superintelligence Labs, launched in June, is scaling up by recruiting leading AI talent from rivals including OpenAI and Google.
  • The company plans to deliver personal AI assistants through smart glasses while enforcing rigorous safety measures and selective open-sourcing.