Meta’s year of bold ‘superintelligence’ bets unlikely to pump profits
It’s crunch time for Mark Zuckerberg as he pulls out all the stops to stay relevant in Silicon Valley’s intensifying advanced artificial intelligence race.
The Meta CEO has sparked a billion-dollar talent war, aggressively poaching researchers from rivals including OpenAI. But as Meta’s spending rises, so does the pressure it faces to deliver returns.
For the second quarter, though, Wall Street is bracing for disappointment as the company is set to report its slowest profit growth in two years on Wednesday, rising by 11.5% to $15.01 billion, as operating costs jump nearly 9%.
