Meta Platforms Inc. CFO Susan Li said the company does not expect generative artificial intelligence (genAI) to be a "meaningful driver of revenue" in 2024. She said Meta is testing AI chats on a "very small scale" with several businesses. However, she added the tech giant plans to "invest aggressively" in expanding AI infrastructure capacity in the coming years.
Li said Meta expects to "maintain an active share repurchase program" after the firm announced a $50 billion increase in its share repurchase authorization in its earnings release. She also said Meta will stop reporting daily and monthly active user figures for Facebook.
