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Maroc Maroc - WN.COM - Business - 29/Jan 07:47

Meta boosts annual spending on superintelligence push, shares surge

Facebook and Instagram-owner Meta has boosted its capital spending plans for this year by 73% in the pursuit of "superintelligence," an effort to offer deeply personalised artificial intelligence to its large social media user base. Shareholders backed CEO Mark Zuckerberg's ambitious capital outlay, boosting Meta stock 10% in extended trading, as the company posted a 24% surge in advertising revenue - its mainstay - for the quarter ended December 31. It also forecast first-quarter revenue above Wall Street expectations. "This is going to be a big year for delivering personal superintelligence, accelerating our business infrastructure for the future and shaping how our company will work going...

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