Mark Zuckerberg has become so obsessed with AI that one Wall Street research firm is jesting that Facebook will change its name to MetAI
Bernstein analysts issued a warning a few days after he made them and after meeting with tech investors."Keep an eye on Zuckerberg's newfound love with all things AI," they quipped in a research email."It seems that the year of efficiency is winding down and a name change to MetAI is now possible." Meta's public relations department did not respond to a request for comment on Monday.
In October, Meta's CFO said AI would drive"substantially all" of the company's capital expenditure growth in 2023. Meta has trimmed capex plans a bit since then, but the company has been buying a lot of Nvidia chips, which are needed to train new generative AI models. These components can cost about $10,000 each.
Meta reports quarterly results April 26, and Wall Street will be watching the company's spending and investment plans closely.
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