Much of the capital investment, a big jump from 2024, will fund expansion of Meta’s data centers, which provide the computing power needed by A.I. products and algorithms.

Meta CEO Mark Zuckerberg said his company will spend up to $65 billion as it looks to "significantly" grow its artificial intelligence team

By Jaspreet Singh (Reuters) -Meta Platforms plans to spend as much as $65 billion this year to expand its AI infrastructure, CEO Mark Zuckerberg said on Friday, aiming to bolster the company's position against rivals OpenAI and Google in the race to dominate the technology.

Meta Platforms will invest up to $65 billion in 2025 to expand its AI infrastructure, significantly increasing from its $38-40 billion spending in 2024. This move, led by CEO Mark Zuckerberg, aims to establish Meta as a foremost AI technology developer,

OpenAI, SoftBank Group Corp. and Oracle Corp. unveiled Project Stargate during a Tuesday press briefing at the White House. The companies intend to build an expansive network of data centers that will be optimized to run AI workloads. OpenAI will be the sole user of the data centers, the Financial Times’ sources said.

Stargate, the joint venture by OpenAI, SoftBank and Oracle to develop data centers for artificial intelligence in the U.S., will exclusively serve ChatGPT maker OpenAI, the Financial Times reported on Thursday.