The $60 to $65 billion in projected capital expenditures this year is more than double the $27 billion Meta spent in 2023.

(Reuters) -Meta Platforms plans to spend between $60 billion and $65 billion this year to build out AI infrastructure, CEO Mark Zuckerberg said on Friday, joining a wave of Big Tech firms unveiling hefty investments to capitalize on the technology.

Mark Zuckerberg says Meta is targeting $60 billion to $65 billion in capital expenditures this year. One analyst thinks up to $33 billion of that could go toward GPUs.

The South Korean memory-chip maker reported record quarterly and annual results after stronger-than-expected earnings for the final quarter of 2024 on robust chip demand.

SK Hynix CFO Kim Woohyun said that the outlook for memory demand in 2025 was clouded by inventory adjustments, protective trade policies and geopolitical risks.

South Korea's SK Hynix forecast sales of its high-end semiconductors used in generative artificial intelligence chipsets would double this year after reporting a record quarterly profit that surpassed its bigger rival Samsung.