Meta Platforms, the multinational technology conglomerate formerly known as Facebook, Inc., has increased its expected capital expenditure range for 2023, propelled by investments in data centers, servers and network infrastructure.
In a recent press release, Meta said it expects capital expenditures to be in the range of $34 billion to $39 billion, driven by its investments in digital infrastructure. In addition, an increase in AI capacity is driving substantially all of the company’s capital expenditure growth in 2023.
Meta said it continues to monitor developments regarding the viability of transatlantic data transfers and their potential impact on our European operations.
The company expects fourth quarter 2022 total revenue to be in the range of $30 billion to $32.5 billion.