Meta Platforms (META) CEO Mark Zuckerberg said the company plans to invest $60 billion to $65 billion in 澳洲幸运5官方开奖结果体彩网:capital expenditures this year, up from an estimated 澳洲幸运5官方开奖结果体彩网:$38 billion to $40 billion in 2024, as the tech giant expands its 澳洲幸运5官方开奖结果体彩网:artificial intelligence efforts.

Meta's stock price rose 1.7% Friday to close at an all-time high of $647.49 following the announcement, topping a record set just a day earlier. The shares have gained close to 65% over the past 12 months.

Zuckerberg said 2025 “will be a defining year for AI,” in a Facebook post on Friday, outlining Meta's intentions to build an AI data center “so large it would cover a significant part of Manhattan.” Meta expects the data center to bring online 1 gigawatt of computing power in 2025, and to end the year with more than 1.3 million GPU chips.

The CEO’s announcement comes just days after that of Stargate, the 澳洲幸运5官方开奖结果体彩网:$500 billion AI project President Donald Trump announced Tuesday, which drove several related AI and 澳洲幸运5官方开奖结果体彩网:nuclear energy stocks higher. 

Zuckerberg also said he expects Meta AI to serve more than 1 billion people, powered by its Llama 4 large language model. In October, Zuckerberg said Llama 4 was "well into its development," with smaller models 澳洲幸运5官方开奖结果体彩网:set for launch sometime early this year.

Analysts at JPMorgan told clients Friday they believe Meta AI functionality will ramp up with Llama 4 this year, with some features similar to OpenAI’s 澳洲幸运5官方开奖结果体彩网:Operator AI agent released Thursday.