CEO Mark Zuckerberg announced that Meta Platforms (META.O) plans to invest as much as $65bn in 2025 to expand its artificial intelligence (AI) infrastructure. This substantial investment aims to bolster Meta’s AI capabilities and strengthen its competitive position against rivals such as OpenAI and Google in the rapidly evolving AI market.

Midlevel staff are often the first targets of corporate downsizing efforts, but Meta’s plan to replace an entire tier of people with AI is a new wrinkle on an old story.

Meta announced fourth quarter earnings on Wednesday that beat expectations, while its outlook for the year ahead showed continued investments around AI.

"This will be a defining year for AI," Zuckerberg said in a Facebook post. "Over the coming years, it will drive our core products and business."

Meta CEO Mark Zuckerberg expects to spend as much as $65 billion on AI in 2025 as part of a “massive effort” to further the company’s AI ambitions. Part of the plan includes a Louisiana data center that Zuckerberg says “is so large it would cover a significant part of Manhattan,” he wrote on Threads today.

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US stocks struggled gained steam on Thursday afternoon as investors digested megacap tech earnings and waited for Apple (AAPL) results for more clues on prospects for Big Tech. After the Federal Reserve stood pat on interest rates as expected,

US stocks struggled to make headway on Thursday as investors digested megacap tech earnings and waited for Apple (AAPL) results for more clues on prospects for Big Tech. After the Federal Reserve stood pat on interest rates as expected,

The S&P 500 ( ^GSPC) moved up roughly 0.3%, while the Dow Jones Industrial Average ( ^DJI) added 0.1%. The tech-heavy Nasdaq Composite ( ^IXIC) was little changed, in the wake of a losing day on Wall Street for the gauges.

Larry Ellison, the Oracle (NYSE:ORCL) co-founder and one of the richest people on the planet, watched $22.6 billion disappear in a single day on January 27—and he didn't even have to lift a finger. The selloff was brutal,

Meta Platforms (META), the parent company of Facebook, Instagram, WhatsApp, Oculus, Threads and other brands, is scheduled to report fourth