Meta Platforms isn’t backing down in the artificial intelligence arms race. The company is all in. On Friday, Meta CEO Mark Zuckerberg said his company is planning to invest $60 billion to $65 billion in capital expenditures this year while growing the size of the company’s AI teams “significantly.

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

Meta CEO Mark Zuckerberg on Friday announced the company plans to invest around $60 billion to $65 billion in capital expenditures this year as it builds out its AI infrastructure. Meta is building a large data center that "would cover a significant part of Manhattan" to power its AI offerings and will end the year with 1.