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Palmer Luckey’s AI and Crypto-Focused Bank Wins Conditional Approval

Palmer Luckey’s AI and Crypto-Focused Bank Wins Conditional Approval

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Erebor, a new tech-focused bank to serve crypto and AI customers, has received conditional approval from the Office of the Comptroller of the Currency (OCC) to begin operations, according to a press release. The list of backers is a real who’s who of people who support President Donald Trump.

Erebor is based in Ohio and was founded by Palmer Luckey, the co-founder of military contractor Anduril and the VR headset company Oculus. Luckey, who’s worth $3.6 billion according to Forbes, first thought of starting the bank after the collapse of Silicon Valley Bank in 2023, according to reporting from July by the Financial Times.

The name Erebor comes from J.R.R. Tolkien’s The Lord of the Rings series, referring to a “Lonely Mountain.” So it makes sense that his co-founder is Joe Lonsdale, who also co-founded Palantir, yet another Tolkien reference. Peter Thiel, still another Palantir co-founder, is also backing the new bank, according to the Financial Times.

The “preliminary and conditional” approval to begin operations happened in just four months, an unusually short period of time. But compliance and security checks are expected to take another few months before it can officially open. Comptroller of the Currency Jonathan V. Gould announced the approval in a statement Wednesday.

“Erebor is the first de novo bank to receive a preliminary conditional approval since I arrived at the OCC,
said Gould. “I am committed to a dynamic and diverse federal banking system, and our decision today is a first but important step in living up to that commitment.”

“Today’s decision is also proof that the OCC under my leadership does not impose blanket barriers to banks that want to engage in digital asset activities,” Gould continued. “Permissible digital asset activities, like any other legally permissible banking activity, have a place in the federal banking system if conducted in a safe and sound manner. The OCC will continue to provide a path for innovative approaches to financial services to ensure a strong, diverse financial system that remains relevant over time.”

An anonymous source “close to Erebor” told the Financial Times that Luckey’s new bank didn’t receive any special treatment, even though everyone assumes that’s untrue in the transactional world of Trump. Business Insider reported in August that Erebor sent out a fundraising memo that explained it was anticipating approval in “less than 6 months” and bragged that “Palmer’s political network will get this done.”

Luckey has donated heavily to Republican candidates, contributing over $400,000 to President Trump alone in 2020. It’s unclear how much Luckey may have donated to Trump in 2024, though it was his political donations that caused controversy during Trump’s first term. Oculus VR was acquired by Facebook in 2014, and Luckey stayed on after the purchase. But he was reportedly forced out of Facebook in early 2017 after donating $10,000 to a pro-Trump group in 2016.

Obviously, giving money to Trump is no longer controversial in Silicon Valley. In fact, guys like Mark Zuckerberg all do it quite openly now. Quite a lot can change in a decade.

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#Palmer #Luckeys #CryptoFocused #Bank #Wins #Conditional #Approval

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When Anthropic similarly restricted access to Mythos, Altman called the tactic fear-based marketing. Some critics also thought so, saying Anthropic’s rhetoric was overblown. Ironically, an unauthorized group reportedly managed to gain access to Mythos anyway.

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trash-talked Anthropic for gatekeeping its cybersecurity tool Mythos by only releasing it to select users, he confirmed that OpenAI would be doing the same with its competing tool, Cyber.

Altman said in a post on X on Thursday that OpenAI will begin rolling out GPT-5.5 Cyber “to critical cyber defenders” in the next few days. OpenAI has an application on its website where people submit information about their credentials and planned use in order to gain access.

Cyber can perform such tasks as penetration testing, vulnerability identification (and exploitation), and malware reverse engineering, the application implies. It’s intended to be a toolkit to help a company find security holes and test defenses. The fear is that the kit could be misused by the bad guys.

When Anthropic similarly restricted access to Mythos, Altman called the tactic fear-based marketing. Some critics also thought so, saying Anthropic’s rhetoric was overblown. Ironically, an unauthorized group reportedly managed to gain access to Mythos anyway.

OpenAI says it’s working to make Cyber more widely available by consulting with the U.S. government and identifying more users with legit cybersecurity credentials.

#dissing #Anthropic #limiting #Mythos #OpenAI #restricts #access #Cyber #TechCrunchAnthropic,cyber,Mythos,OpenAI">After dissing Anthropic for limiting Mythos, OpenAI restricts access to Cyber, too | TechCrunch

After Sam Altman trash-talked Anthropic for gatekeeping its cybersecurity tool Mythos by only releasing it to select users, he confirmed that OpenAI would be doing the same with its competing tool, Cyber.

Altman said in a post on X on Thursday that OpenAI will begin rolling out GPT-5.5 Cyber “to critical cyber defenders” in the next few days. OpenAI has an application on its website where people submit information about their credentials and planned use in order to gain access.

Cyber can perform such tasks as penetration testing, vulnerability identification (and exploitation), and malware reverse engineering, the application implies. It’s intended to be a toolkit to help a company find security holes and test defenses. The fear is that the kit could be misused by the bad guys.

When Anthropic similarly restricted access to Mythos, Altman called the tactic fear-based marketing. Some critics also thought so, saying Anthropic’s rhetoric was overblown. Ironically, an unauthorized group reportedly managed to gain access to Mythos anyway.

OpenAI says it’s working to make Cyber more widely available by consulting with the U.S. government and identifying more users with legit cybersecurity credentials.

#dissing #Anthropic #limiting #Mythos #OpenAI #restricts #access #Cyber #TechCrunchAnthropic,cyber,Mythos,OpenAI
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What drives players to trust digital marketplaces over the tried and tested big-name stores? Savings are a major factor: prices for both hardware and digital game keys can dip well below official retailer listings. Flash sales or limited-time discounts mean buyers can seize deals at odd hours, no camping out, no extra fees for international shipping.

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With the cycle of new releases and old favorites never ending, staying ahead of the next hot thing is less stressful when your shopping list can be satisfied in one place. Digital marketplaces like Eneba, offering deals on all things digital, continue to reshape how players discover, buy, and enjoy what they love most.

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 have made a strong mark by combining everything from rare peripherals to discounted digital game codes in one convenient space. With fierce competition driving prices lower and generous selection on offer, these platforms now rival traditional game shops, yet offer far more flexibility, whether it’s a late-night shopping urge or a flash sale on the latest blockbuster.

While there are plenty of options to buy digital games online, many in-the-know buyers gravitate toward platforms like Eneba for several reasons. Eneba stands out by offering instant access to game keys, which allow players to redeem titles directly on platforms such as PlayStation, with no disc or shipping required. This gives buyers more choice and frequently better prices than traditional platform stores, while an enormous catalog and up-front global or region-locked information make for transparent shopping. Plus, with verified sellers and robust marketplace controls, the risk of counterfeits drops markedly. Beyond game keys, Eneba also features gift cards for services like Xbox, PSN, and Steam, meaning players can top up accounts and snag games or content of their choice, skipping the hunt for specific game keys.

The Big Draws: Price, Speed, and Selection

Why Savvy Gamers Are Embracing Digital Marketplaces for Gear and Games Waiting in line for a midnight game release or scrambling to find a sold-out gaming headset at your favorite electronics store feels far less appealing in a world where instant digital access is just a click away. Today’s gamers are done chasing physical stock and juggling dozens of store accounts. Instead, they’re seeking out a more streamlined, cost-effective way to buy gear and titles, often without ever leaving their chair. Digital marketplaces have exploded in popularity among gaming enthusiasts aiming to make every dollar and minute count. For those new to this shift, sites like Eneba.com have made a strong mark by combining everything from rare peripherals to discounted digital game codes in one convenient space. With fierce competition driving prices lower and generous selection on offer, these platforms now rival traditional game shops, yet offer far more flexibility, whether it’s a late-night shopping urge or a flash sale on the latest blockbuster. While there are plenty of options to buy digital games online, many in-the-know buyers gravitate toward platforms like Eneba for several reasons. Eneba stands out by offering instant access to game keys, which allow players to redeem titles directly on platforms such as PlayStation, with no disc or shipping required. This gives buyers more choice and frequently better prices than traditional platform stores, while an enormous catalog and up-front global or region-locked information make for transparent shopping. Plus, with verified sellers and robust marketplace controls, the risk of counterfeits drops markedly. Beyond game keys, Eneba also features gift cards for services like Xbox, PSN, and Steam, meaning players can top up accounts and snag games or content of their choice, skipping the hunt for specific game keys. The Big Draws: Price, Speed, and Selection Amanz/Unsplash What drives players to trust digital marketplaces over the tried and tested big-name stores? Savings are a major factor: prices for both hardware and digital game keys can dip well below official retailer listings. Flash sales or limited-time discounts mean buyers can seize deals at odd hours, no camping out, no extra fees for international shipping. But it’s not just the cost that wins people over. Instant access is non-negotiable for gamers who want a new release the second it drops, or need to replace a mic in time for tonight’s match. Digital codes and direct-to-home shipping let buyers skip wait times entirely. On top of that, curated stock and real-time availability mean less hunting around, which saves effort. Every moment not spent scrolling is one more minute playing. Security and Transparency Keep Gamers Loyal Skepticism around digital goods is only natural when you’re entering codes worth fifty or even a hundred dollars. Digital marketplaces have worked hard to build trust by publishing clear security guarantees, requiring third-party merchant verification, and setting strict standards for compliance and sourcing. Buyers know that when issues arise, support teams are ready to step in, a far cry from faceless classified ads or auction sites. Transparency is a dealbreaker for many. Region-locked codes? Out-of-stock hardware? Sites that label everything clearly and show purchase history on demand find it easier to retain picky shoppers. Gamers remember who wasted their time and who made the experience simple. Flexibility for Modern Gaming Lifestyles Physical games and hardware still have a place, but the digital approach caters to how gamers actually live and play. Swapping consoles with friends, jumping from PC to mobile, and redeeming codes while traveling all become easier with digital ownership. The global reach of digital marketplaces makes it possible to find rare or region-specific gear and content not available locally. With the cycle of new releases and old favorites never ending, staying ahead of the next hot thing is less stressful when your shopping list can be satisfied in one place. Digital marketplaces like Eneba, offering deals on all things digital, continue to reshape how players discover, buy, and enjoy what they love most. #Savvy #Gamers #Embracing #Digital #Marketplaces #Gear #GamesAndroid Gaming,console gaming,desktop gaming
Amanz/Unsplash

What drives players to trust digital marketplaces over the tried and tested big-name stores? Savings are a major factor: prices for both hardware and digital game keys can dip well below official retailer listings. Flash sales or limited-time discounts mean buyers can seize deals at odd hours, no camping out, no extra fees for international shipping.

But it’s not just the cost that wins people over. Instant access is non-negotiable for gamers who want a new release the second it drops, or need to replace a mic in time for tonight’s match. Digital codes and direct-to-home shipping let buyers skip wait times entirely. On top of that, curated stock and real-time availability mean less hunting around, which saves effort. Every moment not spent scrolling is one more minute playing.

Security and Transparency Keep Gamers Loyal

A son and dad gaming

Skepticism around digital goods is only natural when you’re entering codes worth fifty or even a hundred dollars. Digital marketplaces have worked hard to build trust by publishing clear security guarantees, requiring third-party merchant verification, and setting strict standards for compliance and sourcing. Buyers know that when issues arise, support teams are ready to step in, a far cry from faceless classified ads or auction sites.

Transparency is a dealbreaker for many. Region-locked codes? Out-of-stock hardware? Sites that label everything clearly and show purchase history on demand find it easier to retain picky shoppers. Gamers remember who wasted their time and who made the experience simple.

Flexibility for Modern Gaming Lifestyles

Physical games and hardware still have a place, but the digital approach caters to how gamers actually live and play. Swapping consoles with friends, jumping from PC to mobile, and redeeming codes while traveling all become easier with digital ownership. The global reach of digital marketplaces makes it possible to find rare or region-specific gear and content not available locally.

With the cycle of new releases and old favorites never ending, staying ahead of the next hot thing is less stressful when your shopping list can be satisfied in one place. Digital marketplaces like Eneba, offering deals on all things digital, continue to reshape how players discover, buy, and enjoy what they love most.

#Savvy #Gamers #Embracing #Digital #Marketplaces #Gear #GamesAndroid Gaming,console gaming,desktop gaming">Why Savvy Gamers Are Embracing Digital Marketplaces for Gear and Games

Waiting in line for a midnight game release or scrambling to find a sold-out gaming headset at your favorite electronics store feels far less appealing in a world where instant digital access is just a click away. Today’s gamers are done chasing physical stock and juggling dozens of store accounts. Instead, they’re seeking out a more streamlined, cost-effective way to buy gear and titles, often without ever leaving their chair.

Digital marketplaces have exploded in popularity among gaming enthusiasts aiming to make every dollar and minute count. For those new to this shift, sites like Eneba.com have made a strong mark by combining everything from rare peripherals to discounted digital game codes in one convenient space. With fierce competition driving prices lower and generous selection on offer, these platforms now rival traditional game shops, yet offer far more flexibility, whether it’s a late-night shopping urge or a flash sale on the latest blockbuster.

While there are plenty of options to buy digital games online, many in-the-know buyers gravitate toward platforms like Eneba for several reasons. Eneba stands out by offering instant access to game keys, which allow players to redeem titles directly on platforms such as PlayStation, with no disc or shipping required. This gives buyers more choice and frequently better prices than traditional platform stores, while an enormous catalog and up-front global or region-locked information make for transparent shopping. Plus, with verified sellers and robust marketplace controls, the risk of counterfeits drops markedly. Beyond game keys, Eneba also features gift cards for services like Xbox, PSN, and Steam, meaning players can top up accounts and snag games or content of their choice, skipping the hunt for specific game keys.

The Big Draws: Price, Speed, and Selection

Why Savvy Gamers Are Embracing Digital Marketplaces for Gear and Games Waiting in line for a midnight game release or scrambling to find a sold-out gaming headset at your favorite electronics store feels far less appealing in a world where instant digital access is just a click away. Today’s gamers are done chasing physical stock and juggling dozens of store accounts. Instead, they’re seeking out a more streamlined, cost-effective way to buy gear and titles, often without ever leaving their chair. Digital marketplaces have exploded in popularity among gaming enthusiasts aiming to make every dollar and minute count. For those new to this shift, sites like Eneba.com have made a strong mark by combining everything from rare peripherals to discounted digital game codes in one convenient space. With fierce competition driving prices lower and generous selection on offer, these platforms now rival traditional game shops, yet offer far more flexibility, whether it’s a late-night shopping urge or a flash sale on the latest blockbuster. While there are plenty of options to buy digital games online, many in-the-know buyers gravitate toward platforms like Eneba for several reasons. Eneba stands out by offering instant access to game keys, which allow players to redeem titles directly on platforms such as PlayStation, with no disc or shipping required. This gives buyers more choice and frequently better prices than traditional platform stores, while an enormous catalog and up-front global or region-locked information make for transparent shopping. Plus, with verified sellers and robust marketplace controls, the risk of counterfeits drops markedly. Beyond game keys, Eneba also features gift cards for services like Xbox, PSN, and Steam, meaning players can top up accounts and snag games or content of their choice, skipping the hunt for specific game keys. The Big Draws: Price, Speed, and Selection Amanz/Unsplash What drives players to trust digital marketplaces over the tried and tested big-name stores? Savings are a major factor: prices for both hardware and digital game keys can dip well below official retailer listings. Flash sales or limited-time discounts mean buyers can seize deals at odd hours, no camping out, no extra fees for international shipping. But it’s not just the cost that wins people over. Instant access is non-negotiable for gamers who want a new release the second it drops, or need to replace a mic in time for tonight’s match. Digital codes and direct-to-home shipping let buyers skip wait times entirely. On top of that, curated stock and real-time availability mean less hunting around, which saves effort. Every moment not spent scrolling is one more minute playing. Security and Transparency Keep Gamers Loyal Skepticism around digital goods is only natural when you’re entering codes worth fifty or even a hundred dollars. Digital marketplaces have worked hard to build trust by publishing clear security guarantees, requiring third-party merchant verification, and setting strict standards for compliance and sourcing. Buyers know that when issues arise, support teams are ready to step in, a far cry from faceless classified ads or auction sites. Transparency is a dealbreaker for many. Region-locked codes? Out-of-stock hardware? Sites that label everything clearly and show purchase history on demand find it easier to retain picky shoppers. Gamers remember who wasted their time and who made the experience simple. Flexibility for Modern Gaming Lifestyles Physical games and hardware still have a place, but the digital approach caters to how gamers actually live and play. Swapping consoles with friends, jumping from PC to mobile, and redeeming codes while traveling all become easier with digital ownership. The global reach of digital marketplaces makes it possible to find rare or region-specific gear and content not available locally. With the cycle of new releases and old favorites never ending, staying ahead of the next hot thing is less stressful when your shopping list can be satisfied in one place. Digital marketplaces like Eneba, offering deals on all things digital, continue to reshape how players discover, buy, and enjoy what they love most. #Savvy #Gamers #Embracing #Digital #Marketplaces #Gear #GamesAndroid Gaming,console gaming,desktop gaming
Amanz/Unsplash

What drives players to trust digital marketplaces over the tried and tested big-name stores? Savings are a major factor: prices for both hardware and digital game keys can dip well below official retailer listings. Flash sales or limited-time discounts mean buyers can seize deals at odd hours, no camping out, no extra fees for international shipping.

But it’s not just the cost that wins people over. Instant access is non-negotiable for gamers who want a new release the second it drops, or need to replace a mic in time for tonight’s match. Digital codes and direct-to-home shipping let buyers skip wait times entirely. On top of that, curated stock and real-time availability mean less hunting around, which saves effort. Every moment not spent scrolling is one more minute playing.

Security and Transparency Keep Gamers Loyal

A son and dad gaming

Skepticism around digital goods is only natural when you’re entering codes worth fifty or even a hundred dollars. Digital marketplaces have worked hard to build trust by publishing clear security guarantees, requiring third-party merchant verification, and setting strict standards for compliance and sourcing. Buyers know that when issues arise, support teams are ready to step in, a far cry from faceless classified ads or auction sites.

Transparency is a dealbreaker for many. Region-locked codes? Out-of-stock hardware? Sites that label everything clearly and show purchase history on demand find it easier to retain picky shoppers. Gamers remember who wasted their time and who made the experience simple.

Flexibility for Modern Gaming Lifestyles

Physical games and hardware still have a place, but the digital approach caters to how gamers actually live and play. Swapping consoles with friends, jumping from PC to mobile, and redeeming codes while traveling all become easier with digital ownership. The global reach of digital marketplaces makes it possible to find rare or region-specific gear and content not available locally.

With the cycle of new releases and old favorites never ending, staying ahead of the next hot thing is less stressful when your shopping list can be satisfied in one place. Digital marketplaces like Eneba, offering deals on all things digital, continue to reshape how players discover, buy, and enjoy what they love most.

#Savvy #Gamers #Embracing #Digital #Marketplaces #Gear #GamesAndroid Gaming,console gaming,desktop gaming

Wednesday was a big day for the tech industry with Meta, Google, Amazon and Microsoft all reporting earnings at the same time in the afternoon. Out of the four, though, Meta was the clear loser with its shares down more than 7% even though revenue increased 33% this past quarter, the company’s fastest since 2021.

It’s probably because the company upped its already outrageous spending expectations for the year. Meta said that 2026 capital expenditures would be at least $10 billion more than expected and could top $145 billion. While emphasizing his “confidence in this investment,” CEO Mark Zuckerberg said that most of this increase was due to “higher component costs, particularly memory pricing.”

The AI boom has led to an unprecedented data center buildout that has constrained the global memory chip supply and increased prices for these valuable chips. The result has been a global memory crisis that has impacted not only Meta and the rest of the AI industry but also caused the prices of consumer electronics like laptops and smartphones to soar.

Meta’s $145 billion is a dramatic increase from the $72 billion capital expenditure it recorded just last year, and Zuckerberg is betting it all on an AI turnaround effort.

Meta has been left behind in the AI race as industry rivals like Google have soared past. Roughly 10 months ago, Zuckerberg acknowledged the situation and announced a major catch-up effort that saw him commit billions upon billions of dollars to research and development, and to poach talent from all over the industry, including bringing in Scale AI’s founder Alexandr Wang to lead the new Meta Superintelligence Labs AI division.

Many have been reasonably nervous about this commitment, considering that the company’s latest big bet in emerging tech, the Metaverse, has flopped dramatically. In Wednesday’s earnings report, Meta said that the Reality Labs division, which had helmed the Metaverse efforts, notched an operating loss of more than $4 billion, while only cashing in $402 million in sales. That adds to the whopping $80 billion and more the division has lost in the past six years.

But experts are somewhat more hopeful about the AI bet because, earlier this month, the tech giant debuted the first fruits of that investment with the AI model Muse Spark, a proprietary model that the company plans to open-source in the future. It’s a step in the right direction, but Meta still has to do more before it can confidently say the catch-up effort is successful.

“This was the first release from Meta Superintelligence Labs, and it shows that our work is on track to build a leading lab,” Zuckerberg assured investors in the company’s earnings call. “Now that we have a strong model, we can develop more novel products as well.”

Those novel products will include two agents, one for personal and the other for business uses, according to Zuckerberg.

“We’re already testing an early version of business AIs and weekly conversations have grown 10x since the start of this year,” Zuckerberg said.

One way that AI is clearly showing up to benefit Meta is internally. Meta CFO Susan Li said that over half a billion users weekly on Facebook and Instagram each are now watching videos translated and dubbed by AI. The company is also incorporating the new AI model into parts of its core business, like ads, and particularly into its recommendation system. The goal is to have the AI hyper-personalize feeds for users.

“Since our recommendation systems are operating at such large scale, we’ll phase in this new research and technology over time,” Zuckerberg said. “But the trend over the last few years seems clear that we are seeing an increasing return on the amount that we can improve engagement for people and value for advertisers.”

AI is also taking over internally at Meta. The company is laying off 10% of its workforce and reportedly offering voluntary buyouts to 7% of its U.S. staff, in what seems to follow a purportedly AI-driven trend that has taken Silicon Valley by storm.

On the call, executives wouldn’t say if the layoffs had to do with automation of jobs, but Li did say that a “leaner operating model” would help “offset the substantial investments we’re making.”

#Meta #Spend #Billion #Year #DueArtificial intelligence,Mark Zuckerberg,Meta">Meta Could Spend 5 Billion This Year Due to AI Wednesday was a big day for the tech industry with Meta, Google, Amazon and Microsoft all reporting earnings at the same time in the afternoon. Out of the four, though, Meta was the clear loser with its shares down more than 7% even though revenue increased 33% this past quarter, the company’s fastest since 2021. It’s probably because the company upped its already outrageous spending expectations for the year. Meta said that 2026 capital expenditures would be at least billion more than expected and could top 5 billion. While emphasizing his “confidence in this investment,” CEO Mark Zuckerberg said that most of this increase was due to “higher component costs, particularly memory pricing.” The AI boom has led to an unprecedented data center buildout that has constrained the global memory chip supply and increased prices for these valuable chips. The result has been a global memory crisis that has impacted not only Meta and the rest of the AI industry but also caused the prices of consumer electronics like laptops and smartphones to soar. Meta’s 5 billion is a dramatic increase from the billion capital expenditure it recorded just last year, and Zuckerberg is betting it all on an AI turnaround effort. Meta has been left behind in the AI race as industry rivals like Google have soared past. Roughly 10 months ago, Zuckerberg acknowledged the situation and announced a major catch-up effort that saw him commit billions upon billions of dollars to research and development, and to poach talent from all over the industry, including bringing in Scale AI’s founder Alexandr Wang to lead the new Meta Superintelligence Labs AI division. Many have been reasonably nervous about this commitment, considering that the company’s latest big bet in emerging tech, the Metaverse, has flopped dramatically. In Wednesday’s earnings report, Meta said that the Reality Labs division, which had helmed the Metaverse efforts, notched an operating loss of more than billion, while only cashing in 2 million in sales. That adds to the whopping billion and more the division has lost in the past six years. But experts are somewhat more hopeful about the AI bet because, earlier this month, the tech giant debuted the first fruits of that investment with the AI model Muse Spark, a proprietary model that the company plans to open-source in the future. It’s a step in the right direction, but Meta still has to do more before it can confidently say the catch-up effort is successful. “This was the first release from Meta Superintelligence Labs, and it shows that our work is on track to build a leading lab,” Zuckerberg assured investors in the company’s earnings call. “Now that we have a strong model, we can develop more novel products as well.” Those novel products will include two agents, one for personal and the other for business uses, according to Zuckerberg. “We’re already testing an early version of business AIs and weekly conversations have grown 10x since the start of this year,” Zuckerberg said. One way that AI is clearly showing up to benefit Meta is internally. Meta CFO Susan Li said that over half a billion users weekly on Facebook and Instagram each are now watching videos translated and dubbed by AI. The company is also incorporating the new AI model into parts of its core business, like ads, and particularly into its recommendation system. The goal is to have the AI hyper-personalize feeds for users. “Since our recommendation systems are operating at such large scale, we’ll phase in this new research and technology over time,” Zuckerberg said. “But the trend over the last few years seems clear that we are seeing an increasing return on the amount that we can improve engagement for people and value for advertisers.” AI is also taking over internally at Meta. The company is laying off 10% of its workforce and reportedly offering voluntary buyouts to 7% of its U.S. staff, in what seems to follow a purportedly AI-driven trend that has taken Silicon Valley by storm. On the call, executives wouldn’t say if the layoffs had to do with automation of jobs, but Li did say that a “leaner operating model” would help “offset the substantial investments we’re making.” #Meta #Spend #Billion #Year #DueArtificial intelligence,Mark Zuckerberg,Meta

fastest since 2021.

It’s probably because the company upped its already outrageous spending expectations for the year. Meta said that 2026 capital expenditures would be at least $10 billion more than expected and could top $145 billion. While emphasizing his “confidence in this investment,” CEO Mark Zuckerberg said that most of this increase was due to “higher component costs, particularly memory pricing.”

The AI boom has led to an unprecedented data center buildout that has constrained the global memory chip supply and increased prices for these valuable chips. The result has been a global memory crisis that has impacted not only Meta and the rest of the AI industry but also caused the prices of consumer electronics like laptops and smartphones to soar.

Meta’s $145 billion is a dramatic increase from the $72 billion capital expenditure it recorded just last year, and Zuckerberg is betting it all on an AI turnaround effort.

Meta has been left behind in the AI race as industry rivals like Google have soared past. Roughly 10 months ago, Zuckerberg acknowledged the situation and announced a major catch-up effort that saw him commit billions upon billions of dollars to research and development, and to poach talent from all over the industry, including bringing in Scale AI’s founder Alexandr Wang to lead the new Meta Superintelligence Labs AI division.

Many have been reasonably nervous about this commitment, considering that the company’s latest big bet in emerging tech, the Metaverse, has flopped dramatically. In Wednesday’s earnings report, Meta said that the Reality Labs division, which had helmed the Metaverse efforts, notched an operating loss of more than $4 billion, while only cashing in $402 million in sales. That adds to the whopping $80 billion and more the division has lost in the past six years.

But experts are somewhat more hopeful about the AI bet because, earlier this month, the tech giant debuted the first fruits of that investment with the AI model Muse Spark, a proprietary model that the company plans to open-source in the future. It’s a step in the right direction, but Meta still has to do more before it can confidently say the catch-up effort is successful.

“This was the first release from Meta Superintelligence Labs, and it shows that our work is on track to build a leading lab,” Zuckerberg assured investors in the company’s earnings call. “Now that we have a strong model, we can develop more novel products as well.”

Those novel products will include two agents, one for personal and the other for business uses, according to Zuckerberg.

“We’re already testing an early version of business AIs and weekly conversations have grown 10x since the start of this year,” Zuckerberg said.

One way that AI is clearly showing up to benefit Meta is internally. Meta CFO Susan Li said that over half a billion users weekly on Facebook and Instagram each are now watching videos translated and dubbed by AI. The company is also incorporating the new AI model into parts of its core business, like ads, and particularly into its recommendation system. The goal is to have the AI hyper-personalize feeds for users.

“Since our recommendation systems are operating at such large scale, we’ll phase in this new research and technology over time,” Zuckerberg said. “But the trend over the last few years seems clear that we are seeing an increasing return on the amount that we can improve engagement for people and value for advertisers.”

AI is also taking over internally at Meta. The company is laying off 10% of its workforce and reportedly offering voluntary buyouts to 7% of its U.S. staff, in what seems to follow a purportedly AI-driven trend that has taken Silicon Valley by storm.

On the call, executives wouldn’t say if the layoffs had to do with automation of jobs, but Li did say that a “leaner operating model” would help “offset the substantial investments we’re making.”

#Meta #Spend #Billion #Year #DueArtificial intelligence,Mark Zuckerberg,Meta">Meta Could Spend $145 Billion This Year Due to AIMeta Could Spend $145 Billion This Year Due to AI Wednesday was a big day for the tech industry with Meta, Google, Amazon and Microsoft all reporting earnings at the same time in the afternoon. Out of the four, though, Meta was the clear loser with its shares down more than 7% even though revenue increased 33% this past quarter, the company’s fastest since 2021. It’s probably because the company upped its already outrageous spending expectations for the year. Meta said that 2026 capital expenditures would be at least $10 billion more than expected and could top $145 billion. While emphasizing his “confidence in this investment,” CEO Mark Zuckerberg said that most of this increase was due to “higher component costs, particularly memory pricing.” The AI boom has led to an unprecedented data center buildout that has constrained the global memory chip supply and increased prices for these valuable chips. The result has been a global memory crisis that has impacted not only Meta and the rest of the AI industry but also caused the prices of consumer electronics like laptops and smartphones to soar. Meta’s $145 billion is a dramatic increase from the $72 billion capital expenditure it recorded just last year, and Zuckerberg is betting it all on an AI turnaround effort. Meta has been left behind in the AI race as industry rivals like Google have soared past. Roughly 10 months ago, Zuckerberg acknowledged the situation and announced a major catch-up effort that saw him commit billions upon billions of dollars to research and development, and to poach talent from all over the industry, including bringing in Scale AI’s founder Alexandr Wang to lead the new Meta Superintelligence Labs AI division. Many have been reasonably nervous about this commitment, considering that the company’s latest big bet in emerging tech, the Metaverse, has flopped dramatically. In Wednesday’s earnings report, Meta said that the Reality Labs division, which had helmed the Metaverse efforts, notched an operating loss of more than $4 billion, while only cashing in $402 million in sales. That adds to the whopping $80 billion and more the division has lost in the past six years. But experts are somewhat more hopeful about the AI bet because, earlier this month, the tech giant debuted the first fruits of that investment with the AI model Muse Spark, a proprietary model that the company plans to open-source in the future. It’s a step in the right direction, but Meta still has to do more before it can confidently say the catch-up effort is successful. “This was the first release from Meta Superintelligence Labs, and it shows that our work is on track to build a leading lab,” Zuckerberg assured investors in the company’s earnings call. “Now that we have a strong model, we can develop more novel products as well.” Those novel products will include two agents, one for personal and the other for business uses, according to Zuckerberg. “We’re already testing an early version of business AIs and weekly conversations have grown 10x since the start of this year,” Zuckerberg said. One way that AI is clearly showing up to benefit Meta is internally. Meta CFO Susan Li said that over half a billion users weekly on Facebook and Instagram each are now watching videos translated and dubbed by AI. The company is also incorporating the new AI model into parts of its core business, like ads, and particularly into its recommendation system. The goal is to have the AI hyper-personalize feeds for users. “Since our recommendation systems are operating at such large scale, we’ll phase in this new research and technology over time,” Zuckerberg said. “But the trend over the last few years seems clear that we are seeing an increasing return on the amount that we can improve engagement for people and value for advertisers.” AI is also taking over internally at Meta. The company is laying off 10% of its workforce and reportedly offering voluntary buyouts to 7% of its U.S. staff, in what seems to follow a purportedly AI-driven trend that has taken Silicon Valley by storm. On the call, executives wouldn’t say if the layoffs had to do with automation of jobs, but Li did say that a “leaner operating model” would help “offset the substantial investments we’re making.” #Meta #Spend #Billion #Year #DueArtificial intelligence,Mark Zuckerberg,Meta

Wednesday was a big day for the tech industry with Meta, Google, Amazon and Microsoft all reporting earnings at the same time in the afternoon. Out of the four, though, Meta was the clear loser with its shares down more than 7% even though revenue increased 33% this past quarter, the company’s fastest since 2021.

It’s probably because the company upped its already outrageous spending expectations for the year. Meta said that 2026 capital expenditures would be at least $10 billion more than expected and could top $145 billion. While emphasizing his “confidence in this investment,” CEO Mark Zuckerberg said that most of this increase was due to “higher component costs, particularly memory pricing.”

The AI boom has led to an unprecedented data center buildout that has constrained the global memory chip supply and increased prices for these valuable chips. The result has been a global memory crisis that has impacted not only Meta and the rest of the AI industry but also caused the prices of consumer electronics like laptops and smartphones to soar.

Meta’s $145 billion is a dramatic increase from the $72 billion capital expenditure it recorded just last year, and Zuckerberg is betting it all on an AI turnaround effort.

Meta has been left behind in the AI race as industry rivals like Google have soared past. Roughly 10 months ago, Zuckerberg acknowledged the situation and announced a major catch-up effort that saw him commit billions upon billions of dollars to research and development, and to poach talent from all over the industry, including bringing in Scale AI’s founder Alexandr Wang to lead the new Meta Superintelligence Labs AI division.

Many have been reasonably nervous about this commitment, considering that the company’s latest big bet in emerging tech, the Metaverse, has flopped dramatically. In Wednesday’s earnings report, Meta said that the Reality Labs division, which had helmed the Metaverse efforts, notched an operating loss of more than $4 billion, while only cashing in $402 million in sales. That adds to the whopping $80 billion and more the division has lost in the past six years.

But experts are somewhat more hopeful about the AI bet because, earlier this month, the tech giant debuted the first fruits of that investment with the AI model Muse Spark, a proprietary model that the company plans to open-source in the future. It’s a step in the right direction, but Meta still has to do more before it can confidently say the catch-up effort is successful.

“This was the first release from Meta Superintelligence Labs, and it shows that our work is on track to build a leading lab,” Zuckerberg assured investors in the company’s earnings call. “Now that we have a strong model, we can develop more novel products as well.”

Those novel products will include two agents, one for personal and the other for business uses, according to Zuckerberg.

“We’re already testing an early version of business AIs and weekly conversations have grown 10x since the start of this year,” Zuckerberg said.

One way that AI is clearly showing up to benefit Meta is internally. Meta CFO Susan Li said that over half a billion users weekly on Facebook and Instagram each are now watching videos translated and dubbed by AI. The company is also incorporating the new AI model into parts of its core business, like ads, and particularly into its recommendation system. The goal is to have the AI hyper-personalize feeds for users.

“Since our recommendation systems are operating at such large scale, we’ll phase in this new research and technology over time,” Zuckerberg said. “But the trend over the last few years seems clear that we are seeing an increasing return on the amount that we can improve engagement for people and value for advertisers.”

AI is also taking over internally at Meta. The company is laying off 10% of its workforce and reportedly offering voluntary buyouts to 7% of its U.S. staff, in what seems to follow a purportedly AI-driven trend that has taken Silicon Valley by storm.

On the call, executives wouldn’t say if the layoffs had to do with automation of jobs, but Li did say that a “leaner operating model” would help “offset the substantial investments we’re making.”

#Meta #Spend #Billion #Year #DueArtificial intelligence,Mark Zuckerberg,Meta

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