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Meta Spent More Than Expected on AI
The total was $5 billion more than expected.
© Reuters
Tech Meta
Meta has shared its financial results for the first quarter of 2024, also revealing the costs of the technology company’s heavy investment in the development of Artificial Intelligence (AI).
The technology company expected to spend between 30 and 37 billion dollars, but it seems that the costs were 5 billion dollars higher than expected. In the end, the costs were between 35 and 40 billion dollars.
“Companies investing in this space, especially at the scale that Meta is investing, are likely to struggle with costs in the near term”, says Emarketer senior analyst Max Willens.
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