Susan Li, Meta’s Chief Financial Officer, said in a post-earnings conference call on Wednesday, “We’re exploring ways to work with financial partners to co-develop data centers.” Li also said that while the company still expects to fund much of its capital spending internationally, some of its projects still attract “significant external financing,” and offer more flexibility when it comes to infrastructure needs over time.
The disclosure in Meta’s quarterly filing, however, signals that the plans are firming up. On Thursday, Meta stated that it had approved a plan in June to dispose of certain data center assets and reclassified $2.04 billion worth of land and construction-in-progress as “held-for-sale.”
Mark Zuckerberg, Meta’s CEO, has laid out plans to invest hundreds of billions of dollars into constructing AI data centres known as “superclusters” for superintelligence. Mark mentioned, “Just one of these covers a significant part of the footprint of Manhattan.” He also raised the bottom end of its annual capital expenditures forecast by $2 billion, to $66 billion, going even further to $72billion.
For this, it was also reported and boosted by AI-driven improvements for targeting and content delivery.
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