Meta CEO Mark Zuckerberg announced the company plans to invest around $60 billion to $65 billion in capital expenditures this year

Meta Platforms plans to spend as much as $65 billion this year to expand its AI infrastructure, CEO Mark Zuckerberg said on Friday, aiming to bolster the company's position against rivals OpenAI and Google in the race to dominate the technology.

Mark Zuckerberg says Meta is targeting $60 billion to $65 billion in capital expenditures this year. One analyst thinks up to $33 billion of that could go toward GPUs.