Meta Platforms announced a significant surge in profits, largely driven by its intensified investment in ambitious AI projects, signaling a new strategic direction for the social media giant. This financial boost is enabling Meta to pump billions more into artificial intelligence development.

• Meta's profits jumped by 36% to $18.3 billion, with revenue rising 22% to $47.5 billion for Q2 2024.
• Mark Zuckerberg, chief executive of Meta, is spearheading the company's aggressive push into AI, including plans for "AI Superintelligence."
• Expenses are up 12% to $27 billion as Meta invests heavily in AI infrastructure and talent, reportedly offering $100 million pay packages to top AI professionals.