Mark Zuckerberg, founder and CEO of Meta, speaks at the MetaConnect event at Meta Headquarters in Menlo Park, California, on September 27, 2023.
Josh Edelson | AFP | Getty Images
Zuckerberg claimed 2023 will be the “year of efficiency” following a disastrous 2022, when stocks plummeted 64% to their lowest since 2016.
Meta’s previous high was $382.18 in September 2021, right around the peak of the tech bull market. But Meta's market capitalization remains below its all-time high, as Meta has reduced the number of shares outstanding through tens of billions of dollars in share buybacks. As of September 2021, the market capitalization was nearly $1.1 trillion. It is currently less than $1 trillion.
Investors are increasingly bullish on the company's position in the fast-growing artificial intelligence market.
Earlier this week, Zuckerberg said in a post on Instagram Reels that Meta will have 350,000 Nvidia H100 graphics cards and “nearly 600,000 H100 equivalent compute, including other GPUs” by the end of the year. suggested that it was. This suggests the company is spending billions of dollars to support its AI ambitions.
Meta is scheduled to announce its fourth quarter financial results on February 1st.
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