The excellent news for Meta is that, in contrast to almost all AI startups, it is already making some huge cash. Final quarter, the corporate’s income was simply over $39 billion, an annual enhance of twenty-two%, and income have been roughly $13.5 billion, an annual enhance of 73%. 3.27 billion folks use a minimum of one Meta app day-after-day. That dimension and capital purchased the flexibility to make the massive bets that Zuckerberg turned well-known for.
Throughout Meta’s earnings name on Wednesday, Chief Monetary Officer Susan Li reiterated to buyers that the monetary returns on its current synthetic intelligence investments shall be “realized over an extended time period.” Zuckerberg immediately defined why Meta is spending billions of {dollars} shopping for Nvidia {hardware} and different infrastructure forward of these future returns: “It is arduous to foretell how it will influence generations to come back, however at this level, I would slightly take the danger on Constructing capabilities earlier than it’s vital just isn’t too late.
He once more stated that the Meta AI assistant is predicted to grow to be probably the most used assistant on the planet by the top of this yr. Whereas he touted the generative AI capabilities that “I believe will drive engagement on our product,” he stated the actual income will come from enterprise use circumstances, akin to AI creating advertisements from scratch and letting companies run their very own in WhatsApp. Synthetic intelligence agent.
Another tidbits from the earnings name:
