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

"This will be a defining year for AI," Zuckerberg said in a Facebook post. "Over the coming years, it will drive our core products and business."

Mark Zuckerberg says Meta is targeting $60 billion to $65 billion in capital expenditures this year. One analyst thinks up to $33 billion of that could go toward GPUs.