“On that note, we are increasing our infrastructure CapEx forecast for this year.”

In context

“time in Meta Platforms, Inc.'s history, we are going to be able to develop a first-principles understanding of what you care about and what each piece of content in our system is about so that we can show you more useful things for what you are trying to accomplish. We will also be able to create personalized content specifically for people to help you achieve your goals as well. Since our recommendation systems are operating at such large scale, we will phase in this new research and technology over time. But the trend over the last few years seems clear that we are seeing an increasing amount that we can improve engagement for people and value for advertisers. This encourages us to continue investing heavily in what we expect will provide increasing value over the coming years as well. On that note, we are increasing our infrastructure CapEx forecast for this year. Most of that is due to higher component costs, particularly memory pricing. But every sign that we are seeing in our own work and across the industry gives us confidence in this investment. That said, we are very focused on increasing the efficiency of our investments, and as part of that, we are rolling out more than one gigawatt of our own custom silicon that we are developing with Broadcom as well as a significant amount of AMD chips to complement the new NVIDIA systems that we are rolling out as well. One of the primary goals of our Meta compute initiative is to lead the industry in efficiency of building compute, and we expect that will be a strategic advantage over time. Talking about building physical goods at scale, our AI glasses continue to perform well with the number of people”