If Mark Zuckerberg has a limit to how much he’s willing to spend on infrastructure to win the AI race, the CEO of Meta is doing a great job of hiding it.
On Wednesday, the social networking company boosted its capital expenditure plans by billions of dollars for at least the third consecutive quarter, even as rival Microsoft has eased up slightly on datacenter plans amid economic uncertainty and concerns that the industry’s feverish spending could result in overcapacity.
Meta said Wednesday that its 2025 capex spending would range between $64 billion and $72 billion, a sharp step up from the $60 billion to $65 billion range it forecast just three months ago.
“This updated outlook reflects additional data center investments to support our artificial intelligence efforts as well as an increase in the expected cost of infrastructure hardware,” Meta said in a statement noting that the majority of the capex would go towards its “core business.”
Meta’s stock jumped more than 5% in after hours trading on Wednesday, as the social networking giant announced quarterly earnings results that topped Wall Street expectations and a strong revenue forecast for the current quarter.
Meta said it expects Q2 revenue to range between $42.5 billion and $45.5 billion, which would represent year-on-year growth of between 9% and 16%. The average analyst expectation called for Q2 revenue of $43.81 billion.
This story was originally featured on Fortune.com
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