If Meta investors had concerns about the company’s huge spending on artificial intelligence infrastructure and talent, they’re likely to be assuaged by its blockbuster earnings report on Wednesday. The results,

Meta is shifting how it plans to ensure widespread access to superintelligence, a suggestion that the company’s most advanced AI may remain closed so that Meta can stay in the driver’s seat.

Years removed from the failed promises of the metaverse, Zuckerberg has gone all-in on AI, hiring former Scale AI CEO Alexandr Wang to lead a new “superintelligence” team at Meta, poaching top performers from rival firms like OpenAI and Apple, and making deals to build massive AI infrastructure projects.

Meta's strong earnings report sent its stock soaring after hours. The company also made it clear that the AI talent wars come with a hefty price tag.

In the midst of an artificial intelligence spending spree, Meta posted stronger-than-expected results for the second quarter, buoyed by growing ad revenue even as its expenses increased

At last glance, META stock is up 12.48% to trade at $782.71, on track for its best single-session gain since April 9. In response, 35 brokerages have issued price-target hikes, the highest coming from Rosenblatt Securities to $1,