Meta Boosts Annual Capex Sharply On Superintelligence Push, Shares Jump
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Instagram-owner Meta boosted its capital spending plans for the new year by 73% in the pursuit of "superintelligence." Instagram-owner Meta on Wednesday boosted its capital spending plans for the new year by 73% in the pursuit of “superintelligence,” an effort to offer deeply personalized artificial intelligence to its large social media user base. Meta shares jumped nearly 9% in extended trading. The company also forecast first-quarter revenue above Wall Street expectations and beat profit and
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