Core Insights - Meta CEO Mark Zuckerberg emphasizes the importance of investing heavily in artificial intelligence, suggesting that over-investment is preferable to under-investment [2][4] Investment Strategy - Meta has made a significant $14.3 billion investment in Scale AI to revamp its AI unit, now called Superintelligence Labs [2] - The company is expanding its data centers and forming cloud-computing partnerships with Oracle, Google, and CoreWeave to support its AI ambitions [3] Financial Performance - Meta's capital expenditures (capex) for the year are now projected to be between $70 billion and $72 billion, an increase from the previous guidance of $66 billion to $72 billion [5] - In the third quarter, Meta reported a revenue increase of 26% year-over-year, reaching $51.24 billion, surpassing analyst expectations of $49.41 billion [8] Market Position - Despite the positive revenue growth, Meta's stock fell approximately 8% following the earnings call, contrasting with Alphabet's stock, which rose by 6% [6] - Zuckerberg indicated that if Meta were to have excess computing power, it could potentially offer this capacity to third parties, although this is not currently a concern [6] Future Outlook - Zuckerberg believes that the substantial investments in AI will yield significant returns over time, contributing positively to Meta's core business [4][8] - In a worst-case scenario, if Meta ends up with excess data center capacity, it would lead to asset depreciation, but the company expects to utilize this capacity effectively over time [7]