Meta-revenue: Stocks fall as the company shares more in spending plans

Meta Platforms CEO Mark Zuckerberg said the social media company will continue to invest in building out its infrastructure because the opportunity is so great.

“The formula around building out the infrastructure is, you know, maybe not what investors want to hear in the short term, which is that we’re going to grow it,” he said. “But you know, I just think the opportunities here are really good.”

Meta previously said it would increase its capital spending this year to $38 billion to $40 billion, up from previous plans to spend between $37 billion and $40 billion.

“We will continue to invest significantly in this,” Zuckerberg said. “I am proud of the teams who are doing a great job building a great amount of capacity so that we can deliver world-class models and world-class products.”