Facebook parent company Meta says it’s sharply ramping up spending on artificial intelligence (AI) infrastructure, supported by strong growth in its advertising business. For the current year, Meta projected capital expenditure of between $US115 billion and $US135 billion. Speaking on a conference call with analysts, Zuckerberg again voiced confidence that the AI business is currently gaining strong momentum. Funding for the AI expansion continues to come largely from Meta’s booming advertising business across platforms such as Facebook and Instagram. Revenue jumped 24 per cent year-on-year to nearly $US59.9 billion in the last quarter, exceeding analysts’ expectations.