Meta Plans Sharp Increase In AI Investment, Signals Further Restructuring Meta Platforms is preparing to significantly raise its spending on artificial intelligence this year, nearly doubling its investment despite growing warnings from industry leaders about a potential AI bubble. Speaking during an earnings call on Wednesday, Meta chief executive Mark Zuckerberg said the Facebook and…
Meta, the parent company of Facebook, Instagram, and WhatsApp, has unveiled a new line of AI-driven smart glasses, strengthening its push to make wearable technology a key part of everyday life. At its annual Meta Connect conference held in Silicon Valley, CEO Mark Zuckerberg introduced a series of products developed in partnership with Ray-Ban and…
Meta Platforms, the parent company of Facebook, Instagram, and WhatsApp, reported a sharp rise in profits as it ramps up spending on artificial intelligence projects. The company said revenue for the April–June quarter climbed 22% year-on-year to $47.5 billion, while profits jumped 36% to $18.3 billion. However, expenses also grew by 12% to $27 billion,…
Meta CEO Mark Zuckerberg is pouring billions into building what he hopes will be the world’s first artificial superintelligence (ASI) – a form of AI more capable than humans at nearly all types of knowledge work. The company has been aggressively recruiting some of the AI industry’s top minds, reportedly offering multimillion-dollar pay packages to…
Meta CEO Mark Zuckerberg and other top executives have reached a settlement with shareholders over a high-profile lawsuit linked to Facebook’s repeated privacy breaches, including the infamous Cambridge Analytica scandal. The lawsuit, which sought over $8 billion in damages, was settled on Thursday just before the trial was set to resume in a Delaware court….
When Mark Zuckerberg and Priscilla Chan launched the Primary School in 2016, the vision was bold: a tuition-free educational model in the Bay Area that would integrate healthcare and learning from birth through high school. It was one of the earliest and most personal initiatives funded by the couple’s Chan Zuckerberg Initiative (CZI), reflecting Chan’s…
Meta CEO Mark Zuckerberg this week took the stand in a pivotal antitrust trial brought against the company by the U.S. Federal Trade Commission (FTC), defending Meta’s acquisitions of Instagram and WhatsApp. The case could determine whether Meta will be forced to separate from the two platforms, which regulators argue were acquired to neutralize competition….
Meta CEO Mark Zuckerberg returned to the witness stand on Tuesday for a second day in a high-stakes antitrust trial in Washington, where U.S. regulators are seeking to unwind his company’s past acquisitions of Instagram and WhatsApp. The case, brought by the Federal Trade Commission (FTC), alleges that Meta—formerly Facebook—acquired the two platforms in a…
A former Meta executive has accused the tech giant of compromising U.S. national security and cooperating with the Chinese government to censor political dissent, during explosive testimony before the U.S. Senate on Wednesday. Sarah Wynn-Williams, previously Facebook’s global public policy director, told lawmakers that Meta’s leadership knowingly enabled the Chinese Communist Party to access user…
Meta CEO Mark Zuckerberg has outlined his vision for the future of technology, predicting that smart glasses will eventually replace smartphones as the primary way people interact with the digital world. For nearly three decades, smartphones have been central to communication, navigation, and entertainment. However, Zuckerberg believes a shift is already underway, driven by the…
For nearly 30 years, smartphones have been at the center of modern life, evolving from simple communication devices to essential tools for work, entertainment, and social interaction. However, Meta CEO Mark Zuckerberg believes their dominance is coming to an end. According to him, smart glasses will soon replace smartphones as the primary way people interact…
Meta has announced plans to reduce its workforce by approximately 5%, targeting what it describes as “low performers.” The move, which could affect around 3,600 employees based on Meta’s 72,000-strong workforce as of September, was confirmed on Tuesday. In an internal memo first reported by Bloomberg, CEO Mark Zuckerberg explained the rationale behind the decision:…
Once an intern at Facebook, Shou Zi Chew now stands as one of Mark Zuckerberg’s fiercest competitors, leading TikTok, the platform that has disrupted the social media landscape. Chew’s journey from an aspiring tech professional to the CEO of one of the most influential social platforms is a story of ambition, adaptability, and timing. Starting…
Meta has confirmed a $1 million donation to President-elect Donald Trump’s inaugural fund, marking a significant step in rebuilding ties between the tech giant and the incoming administration. The donation, first reported by The Wall Street Journal, comes shortly after Meta CEO Mark Zuckerberg’s private meeting with Trump at Mar-a-Lago two weeks ago. This move…
Meta, the parent company of Facebook, Instagram, and WhatsApp, has reportedly dismissed several employees for violating its meal voucher policy. Workers allegedly used the vouchers, intended for meals, to purchase non-food items such as toothpaste and washing powder, according to sources who claim to be current or former Meta employees. The company provides staff with…
Mark Zuckerberg, CEO of Meta, has officially entered the exclusive $200 billion club, closing in on the title of the third-richest person globally. According to Bloomberg’s Billionaire Index, Zuckerberg’s fortune has skyrocketed by $73.4 billion in 2024, bringing his total net worth to $201 billion. At 40, Zuckerberg ranks as the fourth-richest person in the…
Meta, formerly known as Facebook, is stepping into the classroom with its virtual reality (VR) technology, aiming to revolutionize education through immersive experiences. This initiative, spearheaded by Meta’s President of Global Affairs Nick Clegg, promises to reshape traditional learning methods and bring students into digital worlds previously unimaginable. The company’s upcoming software for educators, designed…
In a bold move, Meta’s CEO Mark Zuckerberg has publicly criticized rival company Apple’s latest headset, the Vision Pro, asserting that Meta’s own offering, the Quest 3, is superior in multiple aspects. The Vision Pro garnered attention as celebrities like Diplo and T-Pain sported it in public, showcasing its “passthrough” feature, enabling users to view…
In a financial whirlwind, Meta’s founder and CEO, Mark Zuckerberg, experienced a staggering increase of more than $28 billion in his net worth within a single morning. Zuckerberg, already valued at over $140 billion according to Bloomberg’s billionaire index, witnessed this colossal surge as Meta’s stock reached unprecedented heights. The surge came on the heels…
Tech giant Meta experienced a substantial stock surge of over 14% in after-hours trading on Thursday following its robust quarterly earnings report, surpassing Wall Street expectations and marking a remarkable turnaround from its self-declared “year of efficiency.” The company reported profits exceeding $14 billion for the three months ending in December, reflecting a remarkable 200%…
In a recent Instagram post, Meta CEO Mark Zuckerberg revealed the company’s strategic move to heavily invest in Nvidia hardware and other artificial intelligence (AI) initiatives before the close of 2024. Zuckerberg outlined Meta’s commitment to advancing open-source artificial general intelligence (AGI) capable of supporting a wide array of applications, from productivity and development to…
The anticipated showdown between tech moguls Mark Zuckerberg and Elon Musk appears to be in jeopardy, with Zuckerberg expressing his frustration and signalling a desire to put an end to the saga. Zuckerberg, CEO of Meta, the company formerly known as Facebook, declared that Musk’s commitment to the proposed cage fight lacked sincerity, prompting him…
The long-anticipated face-off between tech moguls Elon Musk and Mark Zuckerberg is set to take place on X, formerly known as Twitter, according to Musk’s recent tweets. The platform’s owner shared his preparations for the fight, stating that he would be “lifting weights throughout the day” and confirmed that all proceeds from the event would…
Meta’s Twitter competitor, Threads, has introduced a significant update to the app, aiming to maintain its momentum since its launch two weeks ago. The latest features include a translation button and a dedicated tab in users’ activity feed, showing who has followed them. Cameron Roth, a software engineer working on Threads, announced the updates, assuring…
Twitter’s future hangs in the balance as the launch of rival app Threads from Meta threatens its already struggling business, with the new app surpassing 100 million users in less than a week, raising concerns about Twitter’s ability to retain its audience. Recent data from Cloudflare and Similarweb shows a noticeable decline in Twitter usage,…
“When Mark Zuckerberg shared a photo on Instagram of his family on July 4, two things stuck out: the billionaire CEO wore a striped souvenir cowboy hat, and the faces of his children were replaced with happy face emojis,” said a source. “Meta, Instagram’s parent company, has long been scrutinized over how it handles user…
Last year brought a series of challenges for Meta CEO Mark Zuckerberg, from the Facebook Papers revelations to skepticism surrounding the company’s rebranding as Meta. However, an unexpected turn of events involving Elon Musk and Twitter shifted the spotlight onto a new battleground, with Zuckerberg emerging as the victor. In the ever-evolving landscape of social…
In less than 48 hours, Meta’s Twitter rival Threads has gained over 70 million sign-ups, prompting concerns about the accumulation of power for Meta and CEO Mark Zuckerberg, as some users worry about a potential monopoly. The success of Threads can be attributed to the dissatisfaction with Elon Musk’s ownership of Twitter and the integration…
Twitter is considering legal action against Meta, the parent company of Facebook, following the launch of Meta’s new Twitter competitor, Threads, signaling Twitter’s view of the app as a significant rival. In a letter sent to Meta CEO Mark Zuckerberg by Twitter’s attorney, it is alleged that Meta engaged in trade secret theft by hiring…
Meta’s newly-launched Threads app attracted 30 million users 24 hours after it was launched, according to Mark Zuckerberg, the CEO of Meta, who described the app as a “friendly” competitor to Twitter, owned by Elon Musk since October; experts believe Threads could appeal to dissatisfied Twitter users due to recent changes on the platform. “Wow,…
Meta, the parent company of Facebook, has launched its latest app, Threads, in a direct challenge to Twitter’s real-time conversation space. The app, which bears many similarities to Twitter in terms of layout and features, aims to provide a platform for real-time conversations and connecting with like-minded people. Meta CEO Mark Zuckerberg expressed his vision…
The rivalry between Mark Zuckerberg and Elon Musk escalates as Zuckerberg’s Meta teases Threads, a new app challenging Twitter’s real-time conversation space, set to launch on Thursday.Threads, resembling Twitter, emphasizes conversations, building a following, and connecting with like-minded people, according to the App Store description. The App Store description of the app offers a clear…
Days after Apple unveiled its $3,499 mixed reality headset, Meta CEO Mark Zuckerberg took a veiled swipe at the company’s pricing and product vision. Speaking at an all-hands meeting with Meta employees, Zuckerberg contrasted Apple’s demos of a person sitting alone on a couch with Meta’s focus on active engagement through its Quest VR headset…
Facebook-parent company Meta has begun implementing layoffs within its business groups, as confirmed by social media posts from affected employees. Workers in operations, project management, marketing, policy, communications, and risk analytics took to LinkedIn to announce their layoffs. While Meta declined to confirm the ongoing reductions, a spokesperson referred to CEO Mark Zuckerberg’s March blog…
Mark Zuckerberg’s pivot into the metaverse has cost him dearly in the real world. Even in a rough year for just about every US tech titan, the wealth erased from the chief executive officer of Meta Platforms Inc. stands out. His fortune has been cut in half and then some, dropping by $71 billion so…
