Meta to spend billions in AI 'treasure trove' race

HARGREAVES LANSDOWN

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ARTIFICIAL intelligence is here and Facebook's parent company, Meta, is collecting the receipts.

Pick your metric and Meta crushed it, from ad revenue growth to daily users, all the way down to the profit lines.

It is no longer a question of whether AI will drive higher returns, but by how much.

Advertising is Meta's core business, with consumer touch points from Facebook and Instagram to newer entrants like Threads.

What is impressive is that despite a massive circa 3.5 billion people using one of these services every day, that number is still growing at around 6% a year.