Goldman Sachs’ 35 AI Superstars

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3. Meta Platforms, Inc. (NASDAQ:META)

Number of Hedge Fund Holders: 235

Meta Platforms, Inc. (NASDAQ:META) engages in the development of products that enable people to connect and share with friends and family. In the third quarter of 2024, Meta reported total revenue of $40.6 billion, marking a 19% year-over-year increase. Operating income reached $17.4 billion, resulting in a 43% operating margin, while net income was $15.7 billion, or $6.03 per share. Analysts anticipate continued growth, with projections for the fourth quarter of 2024 estimating earnings per share of $6.74 on revenue of $46.99 billion, reflecting a 15% increase from the previous quarter. Meta has significantly increased its investment in AI, with capital expenditures projected between $60 billion and $65 billion for 2025, surpassing analysts’ expectations of $51.4 billion. CEO Mark Zuckerberg has declared 2025 as the defining year of AI, emphasizing the company’s commitment to advancing its AI capabilities.

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