Chief executive Mark Zuckerberg has ambitious plans to outpace rivals such as ChatGPT developer OpenAI, as well as Google and Elon Musk’s company xAI, in the AI race. 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 US$115 billion (AU$163.2 billion) and US$135 billion (AU$191.4 billion). Speaking on a conference call with analysts, Zuckerberg again voiced confidence that the AI business is currently gaining strong momentum. Meta’s portfolio includes messaging app WhatsApp and Threads, a rival to Elon Musk’s social media platform X.