Meta CEO Mark Zuckerberg announced that AI is helping boost traffic to Facebook and Instagram, increasing ad sales and revenue beyond expectations. As a result, Meta’s shares jumped by 12% in after-hours trading, adding over $50 billion to its market value. The company’s outlook for the year shows a narrower cost range and exceeded Q1 revenue and profit expectations. Despite being slow to adopt AI hardware and software systems, Meta has conducted costly overhauls to enhance its core business, including a major project to upgrade AI capacity.
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