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Zuck's GPU flex will cost Meta as much as $18 billion by the end of 2024

Jan 19, 2024 - businessinsider.com
Meta CEO Mark Zuckerberg has revealed that the company plans to own around 600,000 AI chips, including 350,000 Nvidia H100 GPUs, by the end of 2024. The move is part of Meta's efforts to build a "general intelligence" to support AI tools that are "available and useful to everyone in all of our daily lives." The cost of this could reach $18 billion, based on industry estimates. Zuckerberg also noted that Meta's AI and metaverse projects are increasingly converging, with AR-style glasses with AI expected to be a common way for people to interact with AIs in the future.

In 2022, Meta spent about $13 billion on Reality Labs, its metaverse division. The company has also reduced its workforce by over 20% since late 2022, with further cuts expected. Despite the high spending and restructuring, Zuckerberg emphasized the company's commitment to "efficiency." Meta is set to report its full-year results for 2023 on February 1.

Key takeaways:

  • Meta CEO Mark Zuckerberg announced that the company plans to own around 600,000 AI chips, including 350,000 Nvidia H100 GPUs, by the end of 2024, with an estimated cost of up to $18 billion.
  • Zuckerberg explained that this massive infrastructure is being built to support Meta's efforts in generative artificial intelligence, aiming to make AI tools useful and available in daily lives.
  • In 2022, Meta spent approximately $13 billion on Reality Labs, its metaverse division, and the company's AI and metaverse projects are increasingly converging.
  • Despite the large investments, Meta has cut over 20% of its workforce since late 2022 and further cuts are expected in the coming weeks.
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