Meta’s capital expenditures for this year are expected to range from $60 billion to $65 billion, the New York Times reported, citing a Facebook post from the company leader. That’s a massive jump from the $38 billion to $40 billion the company spent last year.

Mark Zuckerberg has announced a new spending plan for Meta that includes building an “AI engineer” to help with coding.

Meta CEO Mark Zuckerberg announced Friday that the company plans to build a massive data center in Louisiana to power its newest AI model, Llama 4, which is set to launch this year.