Meta bets big on AI

Meta is on a spending spree to stay at the forefront of AI technology. AI will arguably be bigger than the creation of the internet, so it makes sense to be a leader in the industry.

The company just bought Scale AI for $14 billion and is expected to spend a further $70 billion on building new data centres. On top of that, there are rumours that Meta offered some top AI talent $100 million packages to move across to the company. If Cristiano Ronaldo can get $700 million to play football in Saudi for two years, $100 million for someone at the top of AI sounds cheap.

I think it's great that Meta is taking a big bet on the future of AI. Mark Zuckerberg's leadership is key to Meta's ability to spend this much, so quickly, on one industry. Only a controlling founder can avoid corporate bureaucracy, pivot fast and pursue exciting opportunities with such vigour.