America’s tech giants aren’t displaying indicators of slowing AI spending plans regardless of a stretch of financial uncertainty that has meant powerful occasions for know-how shares.

After Meta Platforms (META) late Wednesday reported better-than-expected quarterly earnings, touting its promoting income development, the social media big mentioned it plans to spice up its capital expenditures this 12 months to $64 billion to $72 billion to develop its AI capability.

CEO Mark Zuckerberg instructed traders on a convention name that he believes the alternatives for the corporate in AI are “staggering.” Meta is boosting its deliberate investments each so as to add capability this 12 months and to organize for coming years, he mentioned.

The transfer comes after Meta mentioned in January that it deliberate to spend $60 billion to $65 billion in capital expenditures this 12 months, up from $39 billion in 2024, because the tech big doubles down on the rising tech. 

A number of of Meta’s Magnificent Seven friends, together with Microsoft (MSFT) and Google mum or dad Alphabet (GOOGL), have made related bulletins.

Alphabet instructed traders in February it could spend $75 billion in capital expenditures this 12 months, whereas Microsoft projected $80 billion on infrastructure in fiscal 2025. In its earnings name Wednesday, Microsoft mentioned it could preserve its spending outlook, as did Alphabet final week.

Meta earlier this week launched its first Meta AI standalone app, permitting customers to work together with Meta AI in a devoted app, much like the ChatGPT app. “We’ve got a lot more exciting work in the pipeline that I’m looking forward to sharing soon,” Zuckerberg mentioned. 

Meta shares rose over 5% in after-hours buying and selling. The inventory was down 6% for the 12 months to date by way of Wednesday’s shut.