WHAT HAPPENED TO THE METAVERSE BEING THE NEXT BIG THING? Mark Zuckerberg Shifts Focus to AI, Investing Billions in High-End Chips.

Zuckerberg’s plan entails a significant financial commitment, with Meta gearing up to acquire a staggering 350,000 of Nvidia’s high-end AI chips. These chips, notably expensive, play a pivotal role in powering large language models (LLMs) like ChatGPT. Each Nvidia H100 chip carries a hefty price tag of approximately $30,000. Consequently, Meta’s procurement of these chips may translate into an expenditure exceeding $10.5 billion.

But the expenditure doesn’t stop there. In addition to the 350,000 Nvidia H100s, Zuckerberg also aims to obtain nearly 600,000 H100 equivalents, further amplifying the financial magnitude of this endeavor.

Rather than merely chasing after the next ChatGPT-like language model, Mark Zuckerberg has set his sights on a loftier goal – the development of artificial general intelligence (AGI). AGI represents a concept often discussed among Silicon Valley’s elite, signifying the hypothetical point where AI achieves human-level intelligence. While not everyone in the field is convinced that current AI technology can reach this level, Meta’s commitment to this vision positions the company as a significant player in the race for AGI, potentially overtaking rivals like OpenAI.

After enduring a staggering loss of $46.5 billion associated with the Metaverse, Zuckerberg’s decisive pivot towards AI demonstrates his determination to stay at the forefront of technology.

Meta shares have enjoyed a nice rebound due to cost-cutting — but now this?