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What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Thursday, April 25, 2024

Meta Ramps Up AI Investment

Meta forecast that its full-year 2024 capital expenditures will be in the range of 35-40 billion US dollars, up from 28 billion dollars in 2023, and up from its previous forecast range of 30-37 billion dollars. As it plans to further accelerate its infrastructure investments to support its AI roadmap, Meta also intends to increase capex in 2025.

Mark Zuckerberg, Meta's CEO, said his company "should invest significantly more over the coming years to build even more advanced models and the largest scale AI services in the world." He predicted that AI-enabled glasses will be "a really important platform for the future."

The outlook for smart glasses "has improved quite a bit because previously we thought that that would need to wait until we have these full holographic displays to be a large market. And now we're a lot more focused on the glasses that we're delivering in partnership with Ray-Ban," Zuckerberg added, noting that those glasses "continue to do well and are sold out in many styles and colours." This product, which resembles conventional glasses, lack a built-in display, but are equipped with a camera, microphones and speakers to enable a wearer to query an AI system running in the cloud.

"If we want everyone to be able to use wearable AI, I think eyewear is a bit different from phones or watches in that people are going to want very different designs," Zuckerberg opined. "So I think our approach of partnering with leading eyewear brands will help us serve more of the market." Source: Meta collateral


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