Connect with us

Hi, what are you looking for?

Tech News

Meta’s future is AI, AI, and more AI

Mark Zuckerberg. | Image: Cath Virginia / The Verge; Getty Images

Meta’s second quarter earnings continue the same story from the previous quarter: generative AI may be here, but it’s going to take a long time to make money.

The good news for Meta is that, unlike pretty much every AI startup, it already makes a lot of money. Last quarter, the company made just over $39 billion in revenue, up 22 percent from a year ago, and about $13.5 billion in profit, up 73 percent. 3.27 billion people use at least one of Meta’s apps every day. That kind of scale and money buys the ability to make big bets, which Zuckerberg is famous for doing.

On Meta’s Wednesday earnings call, CFO Susan Li reiterated to investors that financial returns from its recent AI investments will “come in over a longer period of time.”…

Continue reading…

You May Also Like

Editor's Pick

In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

Tech News

Image: Becca Farsace / The Verge Instagram is a popular place to show off your latest photos, but if you’re a real photography enthusiast,...

Tech News

Rufino Choque, from the Urus Indigenous community, stands over a boat in the middle of the extinct Poopó Lake, which disappeared in 2015. |...

Politics

When word first broke that Joe Biden would be sitting down with Howard Stern for a live interview Friday on his SiriusXM show, it...

Generated by Feedzy