Meta stock gained after Mark Zuckerberg pledged to commit between $60 billion and $65 billion this year to capex.

Mark Zuckerberg says Meta is targeting $60 billion to $65 billion in capital expenditures this year. That’s well above Wall Street’s $51 billion forecast.

Meta chief executive Mark Zuckerberg on Friday said the tech giant plans to invest at least $60 billion in artificial intelligence in 2025, aiming to lead in the technology.