Meta CEO Mark Zuckerberg seems prepared to spend massive sums of money building infrastructure to win the AI race.

Meta (META) plans to boost its spending on AI. That didn't cool enthusiasm for the social media giant's stock. Shares of the Facebook parent surged more than 4% to just over $572 Thursday after the social media giant a day earlier eported better-than-expected quarterly results and pointed to growth in advertising—which accounts for the bulk of

Meta reported first-quarter sales of US$42.31 billion ($66.2 billion), beating Wall Street estimates of US$41.4 billion, with earnings per share of US$6.43 versus US$5.28 expected, according to LSEG data.