• Meta will continue to spend big on artificial intelligence, executives said on an earnings conference call.

• The company outperformed third-quarter expectations, with Mark Zuckerberg citing advances in AI as a factor.

• Meta has spent the year pouring money into AI research and development and doesn’t plan to stop anytime soon.

Mark Zuckerberg stays the course with the heavy Meta AI spending.

The company reported its third quarter result Wednesday, describing how its quarterly revenue of $40.59 billion beat expectations of $40.25 billion.

Zuckerberg attributed the “good quarter” to AI Advances in Meta’s applications and business, saying the company has no plans to slow down its investments in technology.

AI has had “a positive impact on almost every aspect of our work,” he said. It’s “clear that there are many new opportunities to use new advances in AI to accelerate our core business,” he said.

But he added that the company Investments in AI continue to demand a “significant acceleration” in infrastructure spending growth.

Meta said it expects its capital spending for the year to be between $38 billion and $40 billion, up from its forecast range of $37 billion to $40 billion.

The company is bet big on AItraining its own models and integrating technology into consumer products on its platforms.

Meta spent the year invest money in AI research and developmentespecially in expand your GPU collection.

During the call, Zuckerberg celebrated the “rapid adoption” of the company’s Meta AI chatbot and Llama AI models.

The focus on AI, however, continued to drive up costs at the company, which is expected to see a “significant acceleration in infrastructure spending growth next year,” executives said.

Emarketer principal analyst Jasmine Enberg said Meta’s big spending on AI shouldn’t scare off investors, citing third-quarter revenue figures. But the company must prove that it can continue to cover its AI costs even if they trend upward, she added.

Meta’s AI approach goes beyond providing products like Meta AI and Meta Ray-Banexecutives said Wednesday. They also believe this technology can be used to streamline business processes, such as coding and content moderation.

Susan Li, chief financial officer, said AI has proven effective in reducing costs over time. She said this helped the company save money because employees can now use AI for coding, which has made them more productive.

“It’s early, but we’re seeing strong internal adoption of our internal support and coding agents,” she said.

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