Meta CEO Mark Zuckerberg says the company will spend up to $135 billion on AI this year, which is almost twice the $72 billion it spent last year on AI projects and infrastructure. The news comes a few weeks after Meta laid off around 1000 employees working within its Reality Labs division who worked on Quest VR headsets and the Horizon Worlds virtual social network. In a recent earnings call, the Meta CEO said that he believed AI will be the next big media format and make feeds “more immersive and interactive.”“We started with text, and then moved to photos when we got phones with cameras, and then moved to video when mobile networks got fast enough. Soon, we’ll see an explosion of new media formats that are more immersive and interactive, and only possible because of advances in AI”, said Zuckerberg.