Meta shares were flat after the market closed but rose as CEO Mark Zuckerberg spoke optimistically about Meta’s AI initiatives and the company’s conviction that open source AI is the right strategy after a Chinese company launched DeepSeek open source AI, which tanked global markets.
“There’s going to be an open source standard globally,” Zuckerberg said on a conference call. “It’s important that it’s an American standard.”
The forecast raised fresh questions about Meta’s capital spending. The company relies on its core social media ads business to cover the costs associated with its AI ambitions and investments in “metaverse” technologies like smart glasses and augmented reality systems.