Meta Hires Scale AI CEO, Boosts AI Investment

Meta CEO Mark Zuckerberg has announced the launch of a Superintelligence Lab, focusing on developing 'personal superintelligence' to empower individuals instead of automating labor. Meta is ramping up investments in AI, raising its capital expenditure forecast to $72 billion and investing $14.3 billion in Scale AI, whose CEO, Alexandr Wang, has been hired to lead the new Meta Superintelligence Labs. The company reported strong Q2 2025 financials, with revenue rising 22% to $47.5 billion and profits up 36%, even as investors voiced concerns about escalating infrastructure costs. Meta's strategy contrasts with competitors like OpenAI and Google by emphasizing AI as a tool for individual empowerment, potentially through wearable devices such as smart glasses. The company is also focused on developing open-source AI models like Llama to make advanced AI accessible to all. The announcement has sparked speculation about effects on AI-related cryptocurrencies and the broader tech market.