Yuan CEO Mark Zuckerberg The company announced on Friday that it plans to invest approximately $60 billion to $65 billion in capital expenditures in 2025 as it continues to expand its business AI infrastructure.

Zuckerberg said 2025 will be “a defining year for artificial intelligence,” and Meta is building a massive data center that “will cover a large portion of Manhattan” to power its artificial intelligence products. In addition, Meta will bring about 1 gigawatt of computing power and have more than 1.3 million graphics processing units by the end of the year, he said.

“This is a massive effort that will advance our core products and businesses, unlock historic innovation, and expand America’s technology leadership for years to come,” Zuckerberg wrote in the letter. a post on Facebook.

Meta shares closed at $647.49 on Friday, a record high since the news was announced.

The company has invested billions of dollars The field of artificial intelligence has increased related research and development efforts in recent years, but this is a highly competitive market and it will take some time for investors to start reaping these benefits. In an April conference call with investors, Zuckerberg said he expected to see “multi-year investment cycleThat’s before Meta’s AI offerings expand into profitable services, but he also noted that the company has a “strong track record” in the sector.

Meta’s stock price plummeted 16% at that time. The vast majority of the company’s revenue still comes from digital advertising.

Zuckerberg said on Friday that he expects the company’s Meta AI digital assistant to become “the leading assistant for more than a billion people.” Zuckerberg added that Meta is also developing an artificial intelligence engineer who will “contribute more and more code to our research and development efforts.”

“We have the capital to continue investing in the coming years,” he wrote in a Facebook post.