(Bloomberg) — Meta Platforms Inc. plans to invest as much as $65 billion on projects related to artificial intelligence in 2025, including building a giant new datacenter and increasing hiring in AI teams, Chief Executive Officer Mark Zuckerberg said Friday.
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The company plans to use the funds to build a datacenter “so large that it would cover a significant part of Manhattan,” Zuckerberg said in a Facebook post. Meta plans to bring around a gigawatt of computing power online in 2025 and is projected to end the year with more than 1.3 million graphics processing units, he added.
“This is a massive effort, and over the coming years it will drive our core products and business, unlock historic innovation, and extend American technology leadership,” Zuckerberg wrote in the post.
Meta, like other leading tech companies, has been pushing to build bigger data centers to support the growing computing demands for developing more advanced AI systems. Earlier this week, OpenAI, SoftBank Group Corp. and Oracle Corp. announced a $100 billion joint venture called Stargate to build out datacenters and AI infrastructure projects around the US.
Analysts were expecting capital expenditures of $51.3 billion in 2025, according to Bloomberg-compiled estimates. Shares of Meta initially fell on the news during premarket trading, but the stock rose 1.4% at 9:43 a.m.
(Updates with more details starting in the second paragraph.)
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