Meta Names Former Trump Appointee Its President as It Continues Big AI Spending

Core Insights - Meta Platforms has appointed Dina Powell McCormick as its president and vice chairman to guide strategy and execution, focusing on multi-billion-dollar investments and partnerships [1][6] - The appointment of Powell McCormick, a veteran of two Republican administrations, highlights Meta's commitment to enhancing its AI capabilities and strategic growth [2][3] Company Overview - Meta, owner of Facebook, Instagram, and WhatsApp, has a market capitalization of approximately $1.65 trillion and is part of the S&P 500's "Magnificent Seven" group of major tech stocks [3] - The company is recognized as one of the largest spenders in the U.S. tech sector, particularly in AI technology development [2][3] Strategic Initiatives - Meta has recently secured long-term energy partnerships with three nuclear energy companies to support its data center network, addressing power availability constraints for expansion [4][5] - The company is also focused on developing its smart-glasses business, which is seen as a potential gateway to AI technology, while evolving its approach to online teen safety [5]