Meta Platforms, Inc. (NASDAQ:META) has announced a new initiative called "Meta Compute," Reuters reported on January 12. The effort is aimed at building artificial intelligence infrastructure and overseeing the company's global fleet of data centers and supplier partnerships, with the stated goal of achieving superintelligence.
In a post on Threads on Monday, Meta CEO Mark Zuckerberg stated the company plans to build "tens of gigawatts this decade, and hundreds of gigawatts or more over time" for data centers to support frontier AI and personal superintelligence projects. Zuckerberg also stated that Santosh Janardhan, the company's head of global infrastructure, and Daniel Gross would co-lead the new initiative. They will collaborate closely with Dina Powell McCormick, the recently appointed President and Vice Chairman.
Separately, on January 14, the investment firm Wedbush reiterated a Buy rating on Meta Platforms and set a price target of $880.
Meta Platforms builds technological products that allow people to share, connect, grow businesses, and find communities. These products help people connect through personal computers, mobile devices, virtual reality headsets, mixed reality headsets, and wearables.