Social Media MarketingMeta shares are up almost 10%, and artificial intelligence has played a key role in it all . Meta Platforms Inc., the parent company of Facebook and Instagram, has surprised the market with its second quarter results, beating expectations and proving that its investments in AI are paying off. With a touch of technological magic, Meta has managed to improve the precision and personalization of its ads, which has translated into a significant increase in its revenue .
Meta's sales reached $39.1 billion, beating analysts' estimates of $38.34 billion , according to data compiled by Bloomberg. The outstanding performance has led to the company's shares soaring nearly 10% in after-hours trading.
Meta bets on the future by investing in artificial intelligence
Mark Zuckerberg, Meta’s visionary CEO, has spared no expense in positioning his company at the forefront of AI . Zuckerberg confirmed that Meta has invested heavily in data centers and computing power, essential elements for developing and training the sophisticated language models that power its chatbots. The result? Shares are up and Meta remains on top.
One of the most notable recent milestones is the introduction of Meta’s largest language model to date , a feat that has required hundreds of millions of dollars in computing power. That’s why the tech giant is betting that its chatbot, Meta AI, will become the most widely used in the world by the end of the year.
Zuckerberg told Bloomberg on July 18 that he is aware of the risk of “overbuilding” in the field of AI, but believes that not investing aggressively in this technology could leave companies out of the game in the next decade.
“I think there’s a significant chance that a lot of companies are overbuilding now, and looking back they’re like, ‘Oh, maybe we spent a few billion dollars more than we needed to. ’ But on the other hand, I really think all the companies that are investing are making a rational decision, because the downside of falling behind is that you’re out of position for the most important technology of the next 10 to 15 years,” he explained.
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