Meta appeared to gain approval from investors to keep putting money into AI. The social media giant issued strong guidance and said it plans to funnel between $115 billion and $135 billion AI spending this year. However, the company’s 24% year-over-year revenue growth, fueled primarily by online advertising, seemed to ease previous worries. The company’s demand backlog rose to $625 billion, up 110%, with a $250 billion cloud agreement from OpenAI during the period. Enterprise AI will be the largest driver of return on the multi-trillion dollar supercycle of investment in AI infrastructure.”WATCH: Meta jumps on earnings beat, strong Q1 guidanceAd