After the metaverse, Mark Zuckerberg invests tens of billions of dollars in “superintelligence” thanks to its astonishing results
Meta is generating enough profits to invest heavily in artificial intelligence (AI). That was Wall Street's verdict on Wednesday, July 30, after the company that owns Facebook, Instagram, and WhatsApp reported its quarterly results. The stock soared more than 11% in informal trading after the close, reaching $780 (€682). The company was worth nine times less on the stock market in the fall of 2022, when its founder, Mark Zuckerberg, was sinking billions of dollars into the metaverse, the three-dimensional virtual future that has remained very virtual , and left Instagram behind the Chinese app TikTok.
All of this is now a distant memory, with revenue up 22% in the second quarter compared to the previous year and net profit up 36%. The figures are staggering, with a profit of $71.5 billion (€63 billion) over the past twelve months – compared to $16 billion for TotalEnergies or $14 billion for LVMH – on revenue of $179 billion. This momentum will allow the firm to invest nearly $70 billion in 2025, $30 billion more than the previous year.
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Le Monde