Meta narrows annual capital expenditures outlook for 'superintelligence' push
(REUTERS)Meta Platforms narrowed its annual capital expenditures forecast on Wednesday, driven by the social media giant's high-stakes push for "superintelligence" as the artificial intelligence arms race intensifies in Silicon Valley.The Facebook and Instagram parent now expects capital expenditures to be between $66 billion and $72 billion, compared with its prior projection of $64 billion and $72 billion.The move follows a similar announcement by Big Tech rival Alphabet, which last week raised its capital spending outlook by $10 billion to $85 billion on the back of strong AI-driven growth in its search and cloud businesses.Training and deploying advanced AI systems remain a capital-intensive endeavor, requiring costly hardware, massive computing resources, and top-tier engineering talent.After a lackluster reception for its Llama 4 model that led to staff departures, Meta has tried to revitalise its AI push by sparking a high-stakes talent war that has seen it dole out more than $100 million pay packages to researchers from rival firms.CEO Mark Zuckerberg has pledged to spend hundreds of billions of dollars to build massive AI data centres, having shelled out $14.3 billion for a stake in startup Scale AI and poached its 28-year-old billionaire CEO Alexandr Wang.To fund the push, the billionaire founder is leaning on Meta's massive user base, as well as AI-powered improvements in content engagement that make it a stable bet for advertisers even in times of economic uncertainty.The social media giant recently introduced an AI-driven image-to-video ad creation tool under its Advantage+ suite, allowing marketers to generate video ads from static images.Instagram, whose Reels product competes with ByteDance's TikTok and YouTube Shorts for ad dollars in the popular short video format, is set to account for more than half of Meta's ad revenue in the US this year, according to research firm eMarketer.Meta has also accelerated efforts to monetise its social media platforms WhatsApp and Threads by integrating ads.
The company last month named insider Connor Hayes as head of Threads, a sign it was moving the platform away from Instagram's shadow after leaning on the photo-sharing app for growth.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
27 minutes ago
- Al Etihad
Global stocks rise, dollar soft on Fed easing bets
7 Aug 2025 13:10 LONDON (Reuters) Global equities rose on Thursday, with Japanese shares hitting a record high, as tech-led gains on Wall Street, upbeat earnings, growing hopes for a ceasefire in Ukraine and expectations for US rate cuts boosted largely shook off US President Donald Trump's latest tariff volleys, including an additional 25% tariff on U.S. imports from India over purchases of Russian oil and a threatened 100% duty on chips."It's surprising that everything that gets thrown at the market just continues to melt up," said Eddie Kennedy, head of bespoke discretionary fund management at STOXX 600 rose 0.5%, with major indexes in Frankfurt and Paris up 1% and 0.8%, respectively. Britain's FTSE 100 was the outlier, dropping 0.3%.Plans for a meeting between US President Donald Trump and Russian President Vladimir Putin over the war in Ukraine also helped sentiment in European equities and underpinned the euro."It (a ceasefire) would be an extra positive," said Emmanuel Cau, Barclays head of European equity strategy."If there is a de-escalation, it would be supportive. It's not the key driver, but it's been a lingering issue for Europe."In Asia, Japan's broad Topix index rose 0.7% to a record closing high, with the more tech-focused Nikkei also gaining by about the stock benchmark surged as much as 2.6% to a more than one-year peak. Shares in chipmaker TSMC, which this year announced additional investment in its US production facilities, soared 4.9% to a record KOSPI added 0.6%, with South Korea's top trade envoy saying Samsung Electronics and SK Hynix would not be subject to 100% Kong's Hang Seng rose 0.5%, although mainland Chinese blue chips were only slightly higher on the day. The yuan firmed slightly to 7.1819 per dollar in offshore S&P 500 futures rose 0.3%. On Wednesday, the cash index climbed 0.7%."Wall Street seems to have gotten its mojo back," analyst Kyle Rodda wrote in a note."However, there are persistent risks to the downside. Downside surprises in official data are increasing," he said. "Valuations are also stretched, with forward price to earnings hovering around the highest in four years. And trade uncertainty persists." Dollar on the Back Foot The US dollar remained lower against major peers on Thursday, with expectations of easier policy from the Federal Reserve stoked both by some disappointing macroeconomic indicators - not least Friday's payrolls report - and Trump's move to install new picks on the Fed board that are likely to share the US President's dovish views on monetary is centring on Trump's nomination to fill a coming vacancy on the Fed's Board of Governors and candidates for the next chair of the central bank, with current Chair Jerome Powell's tenure due to end in benchmark 10-year US Treasury yield was little changed at 4.2365%. The two-year yield, which is more sensitive to changes in interest rate expectations, was up 1 basis point at 3.7134%, close to a three-month low of 3.659% touched on dollar index, which gauges the currency against the euro, sterling and four other counterparts, eased 0.2% to 98.031, extending a 0.6% drop from euro added 0.2% to $1.1686, following the previous session's 0.7% rose 0.2% to $ BoE looks poised to cut interest rates for the fifth time in 12 months later on Thursday, but nagging worries about inflation are likely to split its policymakers and cloud the outlook for its next Monetary Policy Committee members may push for a half-point rate cut, and two may lobby for no change. In commodities, spot gold added 0.3% to $3,376 an ounce, after earlier hitting its highest level in two weeks.
Emirates 24/7
an hour ago
- Emirates 24/7
Google launches $1 billion AI education initiative
US technology company Google has announced a US$1 billion investment over three years to support and expand access to artificial intelligence training and tools for higher education institutions and non-profit organisations across the United States. The initiative currently includes over 100 universities, including major academic networks such as Texas A&M and the University of North Carolina. Participating institutions will receive a range of resources including financial grants, cloud computing credits and free licences for the advanced version of the Gemini chatbot to support student training and research. James Manyika, Senior Vice-President at Google for Research, Labs, Technology & Society, said the company aims to scale the programme to all accredited non-profit colleges in the United States and is considering similar plans for international deployment, according to Reuters. The announcement comes amid intensifying competition among tech giants such as Microsoft, which recently pledged US$4 billion to support global AI integration in education, alongside similar initiatives from companies such as OpenAI and Anthropic. Follow Emirates 24|7 on Google News.
Campaign ME
2 hours ago
- Campaign ME
How Sony adapted a global audio campaign for the Middle East
Global creative platforms are powerful, but in the Middle East, campaigns resonate most when they feel built for the market. Sony's launch of the WH‑1000XM6 headphones shows how a premium audio brand can take a global idea, apply it across diverse cultures, and create region‑specific experiences without losing its creative centre. Koji Sekiguchi, Head of Marketing for Sony Middle East and Africa, shares how the brand adapted its latest audio launch to the region – from localisation and influencer alignment to segment‑focused messaging and market rollout. Globally, the WH‑1000XM6 headphones sit under the Sony audio division – For The Music – which US artist Post Malone is the face of. Known for his cross‑genre sound and direct connection to fans, he also collaborated on campaign content. 'Post Malone was selected for his authenticity, creativity, and deep connection to music,' says Sekiguchi. 'His influence and genre-defying style align with the WH-1000XM6's promise of immersive audio experiences. His involvement in the campaign, including co-creating ads, showcases how Sony's audio technology brings fans closer to the music, embodying the essence of For The Music campaign. View this post on Instagram A post shared by Sony Middle East and Africa (@sonymea) In the Middle East, this creative foundation was used as a starting point. 'Creative assets and messaging were adapted to reflect regional preferences, including language, cultural nuances, and aesthetic choices,' Sekiguchi says. 'It's important that people feel a campaign speaks directly to them, even if the core idea is global.' Localising experiences Sony's 1000X series has established a strong presence in the Middle East's premium audio segment by focusing on three key pillars: innovation, quality, and emotional connection. With the release of the WH-1000XM6, the brand builds on that foundation, introducing improved noise cancellation, refined sound performance, and user-focused features. 'At Sony, our focus has always been to meet the needs of our customers especially in the audio and content creation segment,' says Sekiguchi. The launch in Dubai was designed as a premium, interactive event. 'The launch event brought together a curated guest list of tech, lifestyle, and audio enthusiasts for an exclusive hands-on experience and featured dedicated demo zones that highlighted the WH-1000XM6's industry-leading noise cancellation and adaptive sound technology,' says Sekiguchi. Midway through the evening, attendees connected their headphones to a dedicated app streaming music created for the launch. The live performers on stage played a backing track that could not be heard through the headphones – a deliberate way to showcase the product's ability to isolate sound in busy or noisy environments. Influencers played a central role in the regional rollout. 'We collaborated with relevant local influencers whose profiles align with our brand values and resonate with our target audience to amplify our messaging across digital and social platforms,' says Sekiguchi. This approach supports a multi‑segment audience strategy. 'Audiophiles are drawn to Sony's offerings of superior sound fidelity and industry‑leading noise cancellation, which deliver the immersive listening experience they crave,' says Sekiguchi. 'Meanwhile, commuters appreciate the comfort, noise cancellation, and the ability to escape the hustle and bustle during their daily travel and remote work.' For Sekiguchi, versatility is a key driver. 'The product was designed with versatility in mind, making it suitable for various lifestyles and preferences, allowing it to seamlessly integrate into different daily routines, from on‑the‑go listening to focused work or study environments.' The headphones campaign covers the Sony's network in the GCC, Levant, Africa and Central Asia. 'All our initiatives are strategically positioned to cater to diverse markets, each with its own unique consumer preferences and technological demands,' Sekiguchi says. The media approach included region‑specific adaptation of campaign assets and messaging. 'Localised content helped ensure stronger engagement and greater authenticity, while region‑specific media channels were leveraged to maximise reach,' Sekiguchi explains. Measuring the launch In the early phase, the campaign focused on awareness. 'This was driven through a targeted influencer campaign featuring regionally relevant creators, which helped amplify visibility across social platforms and build early buzz around the product,' says Sekiguchi. 'Simultaneously, a strategic pre-booking window was launched, serving as an important indicator of consumer interest and intent to purchase.' 'The response during this phase provided strong initial momentum and valuable insights into demand,' he says. But Sekiguchi adds that the impact of the launch will be judged on more than sales. 'Ultimately our goal is to ensure the products we bring to market deliver on value, benefit expectations, and premium quality of lifestyle – meeting the expectations of both new customers and loyal Sony fans in the region.'
