By Meghan Bobrowsky
Mark Zuckerberg announced a huge leap in Meta's capital spending this year to between $60 billion to $65 billion, an increase driven by AI and a massive new data center.
The announcement is the latest sign that tech companies are accelerating their investment in artificial intelligence after OpenAI and partners unveiled a $500 billion spending plan called Stargate earlier this week.
The spending plan is a roughly $14 billion increase above 2025 analyst projections, and analysts estimate that 2024 capital expenditures reached $38 billion, according to FactSet.
Write to Meghan Bobrowsky at meghan.bobrowsky@wsj.com
(END) Dow Jones Newswires
January 24, 2025 10:03 ET (15:03 GMT)
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