Zuckerberg said Meta was prepared to spend up to $200 billion on AI — NDTV

Meta CEO Mark Zuckerberg said the company last year committed to spending hundreds of billions of dollars on infrastructure for artificial intelligence products without knowing for certain whether those investments would pay off. During the Cheeky Pint podcast, he recalled a conversation with Meta’s chief artificial intelligence officer, Alexander Wang, about potential spending of between $100 billion and $200 billion.

NDTV reports. According to Zuckerberg, Meta CFO Susan Li repeatedly warned management that the cost of failure would be very high. Wang also said he could not guarantee success despite the exceptionally large scale of the investments.

New AI model and Muse

On Monday, Meta unveiled a new artificial intelligence model, which it called a significant step forward compared with its previous developments. The company said the model has capabilities on par with leading systems and can compete with OpenAI’s ChatGPT and Anthropic’s Claude in programming, as well as in handling financial or legal matters.

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The company also recently launched the personalized AI assistant Muse. It is designed to automate a range of consumer tasks, including shopping, buying movie tickets and scheduling meetings. Zuckerberg acknowledged that Meta was not certain about the consumer response and expected that the product might require further refinement.

Spending and financial results

Meta is increasing spending amid competition with Alphabet, OpenAI and Anthropic in developing leading artificial intelligence models and products. The company is among the technology industry’s largest investors in AI data centers.

Next week, Meta is expected to release its financial results after the market closes on October 21. In the previous quarter, the company reported its lowest free cash flow in several years, a sign of mounting spending on data centers and smart glasses; its shares then fell by 8%. At the same time, from the start of the year through the close of trading on Monday, Meta shares gained more than 12%.