Meta CEO Mark Zuckerberg unnerved investors on the company's quarterly earnings call Wednesday by focusing on its long-term investments in AI and the metaverse.'s earnings call by talking about artificial intelligence. Then he moved onto the metaverse, touting his company's headsets, glasses and operating system. He spent almost the entirety of his opening remarks focused on the many ways Meta loses money.
Zuckerberg then moved onto potential opportunities for expansion within the mixed-reality headset market, like a headset for work or fitness. Metato the operating system that powers its Quest headsets on Monday, which Zuckerberg said will help the mixed-reality ecosystem grow faster. Capital expenditures for 2024 are anticipated to be in the $35 billion to $40 billion range, an increase from a prior forecast of $30 billion to $37 billion"as we continue to accelerate our infrastructure investments to support our artificial intelligence roadmap," Meta said.
"While there is tremendous long-term potential, we're just much earlier on the return curve," Li said.