The cofounder and CEO of Meta doubled down on plans to spend hundreds of billions of dollars on AI infrastructure as China's DeepSeek raises questions about the costs of the AI arm's race.
Stephen Miller told Zuckerberg that the billionaire mogul had “an opportunity to help reform America, but it would be on Trump’s terms.”
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.
Jeff Bezos, Mark Zuckerberg, Elon Musk, and other tech leaders are providing Trump with a warmer welcome to the White House than eight years ago.
Meta Platforms beat Wall Street expectations for fourth-quarter revenue on Wednesday but predicted sales in the current first quarter may not meet forecasts, sending mixed signals about how its bets on pricey artificial intelligence-powered tools are paying off.
The tech giants are keeping capital spending plans in line as DeepSeek raises questions about future computing needs.
DeepSeek will not derail Microsoft and Meta spending a combined $US145bn ($232.3bn) on artificial intelligence this year, with Mark Zuckerberg steaming ahead with plans to build a data centre almost the size of Manhattan.
Mark Zuckerberg is reportedly seeking to align with Trump by buying property in D.C. and advising on AI, signaling a shift from their past conflicts.
Investors punished Microsoft with a 4 per cent share drop on Thursday as hefty AI bets failed to drive a big increase in its cloud revenue, while Meta rose 2 per cent after CEO Mark Zuckerberg assured Wall Street about growth with promises of a "really big year".
Microsoft shares dropped 5 per cent, while Meta was up 2 per cent after their October-December Q1 results, both companies posted profits, according to AP reports.