<p>投资者可能普遍关注人工智能战争（AI），大多数 “七大巨头” 公司在争夺首个突破 AI 的机会上投入巨资，并希望获得随之而来的所有财务利益。</p>
<p>但在过去几周，<strong>Meta Platforms</strong>（META 0.37%）首席执行官马克·扎克伯格做出了真正巨大的举动，承诺投入巨额资金用于人才和计算基础设施，这些投入甚至超过了当前 AI 领导者的高昂标准。</p>
<p>这些举动的影响可能被一些人理解，但在更大的投资社区中仍可能被低估。</p>
<h2>扎克伯格抛出挑战书</h2>
<p>在过去一个月左右，扎克伯格做了以下事情：</p>
<ol>
<li>以 280 亿美元的估值收购数据标注领导者 Scale AI 的 49% 股份，带来了 Scale 的首席执行官亚历山大·王及其高层领导。</li>
<li>除了王之外，还聘请了顶尖的 AI 人才，组建了一个 “超级智能团队”，从几家领先的 AI 和科技竞争对手中招募了约 50 名研究人员，提供的薪资是其他公司的数倍，传闻有些报价高达 2 亿美元或更多。</li>
<li>知名的挖角人才包括前 GitHub 首席执行官纳特·弗里德曼；曾是 SSI 首席执行官和联合创始人的丹尼尔·格罗斯；伊利亚·苏斯克弗当前创业公司的创始人（苏斯克弗是 OpenAI 的联合创始人）；<strong>苹果</strong>AI 部门负责人庞若鸣；以及来自 OpenAI 的卢卡斯·贝耶、亚历山大·科列斯尼科夫和翟晓华。</li>
</ol>
<p>在基础设施投资方面，扎克伯格还透露了一些即将到来的重大项目：</p>
<ol>
<li>在一条 Threads 帖子中，扎克伯格表示 Meta 将投资 “数千亿美元” 用于 AI 超级集群。</li>
<li>这包括行业首个 1GW 超级集群，Meta 称之为普罗米修斯，预计将在 2026 年上线。</li>
<li>扎克伯格还表示，这将是多个 GW 以上超级集群中的第一个，包括最终将扩展到 5GW 的海波里昂，涵盖一个几乎与曼哈顿大小相当的数据中心。</li>
</ol>
<p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1NjAvZ2V0dHlpbWFnZXMtMjA4NDk1MzA0OS5qcGcmdz03MDA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1NjAvZ2V0dHlpbWFnZXMtMjA4NDk1MzA0OS5qcGcmdz03MDA"/></p>
<p>图片来源：Getty Images。</p>
<h2>这些支出如何带来回报？</h2>
<p>人们可能会想知道是什么促使扎克伯格进行如此大规模的支出，这是一种进攻性还是防御性举动。答案，或许并不令人惊讶，可能是两者兼而有之。</p>
<p>扎克伯格现在表示，Meta 的目标是 “超级智能”，这可能有点类似于以前所称的人工通用智能（AGI）。超级智能的概念，以及 AI 是否能够达到这样的水平，一直是热议的话题。然而，扎克伯格似乎现在相信超级智能是可以实现的，并可能在未来几年内达到。</p>
<p>在最近接受科技杂志《The Information》采访时，扎克伯格说：</p>
<blockquote>
<p>目前行业内有一个大辩论。好吧，超级智能在三年、五年、七年内是否可能实现？但我认为没有人知道答案。我只是认为我们应该下注并行动，仿佛它将在接下来的两到三年内准备好。</p>
</blockquote>
<p>扎克伯格还认为，“超级智能” 对 Meta 的意义可能与对更注重企业的七大巨头公司有所不同。比如，<strong>微软</strong> 可能会利用 AI 来自动化许多企业功能，从而提高生产力，而对 Meta 来说，扎克伯格显然设想的是为消费者提供与他们日常生活、所消费的媒体和社交关系相关的 “超级智能”。</p>
<p>扎克伯格在采访中还提到，高薪是值得的，因为最终团队可能会很小，只有 50 到 70 人：</p>
<blockquote>
<p>我认为这方面的物理规律是，你不需要一个庞大的团队来完成这项工作。你实际上希望的是能够将整个事情放在脑海中的最小团队。因此，最优秀和最有才华的人才是绝对的优先选择。</p>
</blockquote>
<p>这很有道理。AI 系统的架构设计非常复杂，如果技术人员在过程中做出了错误的架构选择，可能会影响整个模型的性能。根据 AI 芯片博客_Semianalysis_的说法，Meta 最近的大型语言模型 Llama 4 表现不佳，原因部分是数据标注不佳——而 Scale AI 的收购应该能帮助解决这个问题——以及一些糟糕的架构选择。</p>
<p>因此，扎克伯格认为投资于少数高素质工程师是最佳路径也就不足为奇了。一个成功模型与一个令人失望模型之间的差异可能取决于几个高层决策，因此扎克伯格愿意为 Meta 的新 AI 努力支付高价以追求质量而非数量是合理的。</p>
<p>另一个进攻性方面是，Meta 的财务资源无疑比其竞争对手更为充足，尤其是 OpenAI，后者被视为一家初创公司，目前正在亏损数十亿美元。去年，Meta 的 “核心” 社交媒体广告业务带来了高达 871 亿美元的营业收入，部分被其 Reality Labs 部门的 177 亿美元亏损所抵消。而这 871 亿美元今年可能有望接近 1000 亿美元。</p>
<p>因此，Meta 有能力支付与其竞争对手相同或更多的薪资，通过支付这些天文数字的薪水，它提高了所有人的就业成本——包括 OpenAI。扎克伯格继续说：</p>
<blockquote>
<p>... 强化学习的一个好处是，它为你提供了一个场所，可以将大量资本转化为越来越好的服务，甚至可能比其他资金较少或不够大胆的竞争对手提供更好的服务……我将其视为一种竞争优势。如果我们能让这一切运作良好，这就是我们全力以赴的原因。我们正在建设多个多吉瓦的数据中心，基本上可以通过公司的现金流来资助这一切。</p>
</blockquote>
<h2>但这一举动也可能是出于防御考虑，并且并非没有风险</h2>
<p>虽然扎克伯格的 “全力投入” 消费狂潮令人兴奋，但投资者也应警惕一些事情。首先，Meta 的 AI 超级智能梦之队似乎将基本上从零开始。这可能是由于 Meta 最近在 Llama 4 LLM 上的努力未能达到预期，或者至少在与其他竞争对手的竞争中落后于扎克伯格的期望。因此，Meta 最新的 AI 领导尝试似乎有些失败，这引发了关于此时是否有必要将所有筹码都押上的疑问。</p>
<p>还有报道称，扎克伯格未能成功收购他想要的所有公司和人才。除了 Scale AI，扎克伯格还 reportedly 想收购 Mira Murati 的 Thinking Machines 和 Ilya Sustkever 的 SSI，但在这两种情况下都遭到了拒绝。据报道，扎克伯格还向 OpenAI 的部分领导团队提出了数十亿美元的收购要约，但也遭到了拒绝。因此，尽管 Meta 现在可能拥有最强大的 AI“梦之队”，但这并不一定是一个 “完整” 的梦之队。</p>
<p>最后，Meta 有在某些遥远的风险投资上投入资金的历史，而没有立即的实质性成果。看看 Reality Labs 部门，这基本上是扎克伯格创造 “下一个计算平台” 的赌注，即虚拟现实眼镜或眼镜。Meta 甚至在 2021 年将其名称从 Facebook 更改为 Meta Platforms，以显示其对这一努力的承诺。然而，到 2024 年，三年后，该部门的亏损达到了 177 亿美元，较 2023 年的 161 亿美元亏损有所增加。</p>
<p>最后，扎克伯格并没有明确说明他所说的日常消费者 “超级智能” 究竟意味着什么。虽然 Reality Labs 部门和消费者超级智能的概念可能有一天会实现，但这并不确定——即使扎克伯格组建了一个 AI“梦之队”。因此，尽管上个月的支出令人兴奋，但如果 Meta 的支出增加而收入没有相应增长，投资者可能会变得不耐烦。</p>
<h2>然而，这一支出使 Meta 成为必买股票</h2>
<p>如果今天的某个科技领袖在其他公司之前实现了 “超级智能”，它有可能打破今天七大巨头之间的权力平衡。这就是为什么任何年轻人或成长型投资者都应该接触 Meta 及其竞争对手，尽管他们今天在 AI 上的支出巨大。</p>
<p>如果这些公司中的某一个在其他公司之前 “破解了代码”，那么七大巨头可能会变成三大、两大……甚至一大。通过过去一个月的举动，扎克伯格正在大力投资，以确保 Meta 成为那个 “唯一” 的领先候选者之一。</p>
<p>投资者应关注 Meta 在 7 月 30 日月底报告财报时的更多信息。</p>

META

<p>Meta 首席执行官马克·扎克伯格在人工智能领域进行了重大投资，包括收购 Scale AI 的 49% 股份，并组建了一支顶尖人才的 “超级智能团队”。他计划在 AI 超级集群上投资 “数千亿”，旨在推动超级智能的进步。扎克伯格相信，这可以在未来几年内实现，重点是提升消费者体验，而不仅仅是企业生产力。他强调，一个小而高技能的团队对于成功的 AI 开发至关重要，这与 Meta 过去在 AI 模型方面面临的挑战相呼应</p>

<p>Investors may be generally tracking the artificial intelligence wars (AI), with most of the &#34;Magnificent Seven&#34; companies spending hand over fist in a race to be the first to crack AI -- and all the financial benefits that come with it.</p>
<div class="lb-trans"><p>投资者可能普遍关注人工智能战争（AI），大多数 “七大巨头” 公司在争夺首个突破 AI 的机会上投入巨资，并希望获得随之而来的所有财务利益。</p>
</div><p>But over the last couple of weeks, <strong>Meta Platforms</strong>(META 0.37%) CEO Mark Zuckerberg has made truly massive moves, committing huge amounts of dollars to both talent and computing infrastructure that dwarf even the current super-expensive standard of today's AI leaders.</p>
<div class="lb-trans"><p>但在过去几周，<strong>Meta Platforms</strong>（META 0.37%）首席执行官马克·扎克伯格做出了真正巨大的举动，承诺投入巨额资金用于人才和计算基础设施，这些投入甚至超过了当前 AI 领导者的高昂标准。</p>
</div><p>The implications of the moves may have been comprehended by some, but may still be underestimated by the larger investment community.</p>
<div class="lb-trans"><p>这些举动的影响可能被一些人理解，但在更大的投资社区中仍可能被低估。</p>
</div><h2>Zuck throws down the gauntlet</h2>
<div class="lb-trans"><h2>扎克伯格抛出挑战书</h2>
</div><p>Over the past month or so, Zuckerberg has:</p>
<div class="lb-trans"><p>在过去一个月左右，扎克伯格做了以下事情：</p>
</div><ol>
<li>Purchased 49% of data-labeling leader Scale AI at a $28 billion valuation, bringing in Scale's CEO Alexandr Wang and top leadership.</li>
<li>Hired top AI talent in addition to Wang to create a &#34;Super-Intelligence Team&#34; from several leading AI and tech rivals, totaling about 50 researchers, by offering multiples more than other companies, with some offers rumored to be as much as $200 million or more.</li>
<li>Notable poached talent includes Nat Friedman, the former GitHub CEO; Daniel Gross, who was CEO and co-founder of SSI, Ilya Sustkever's current start-up (Sustkever was a co-founder of OpenAI); Ruoming Pang, the head of <strong>Apple</strong>'s AI division; as well as Lucas Beyer, Alexander Kolesnikov, and Xiaohua Zhai from OpenAI.</li>
</ol>
<div class="lb-trans"><ol>
<li>以 280 亿美元的估值收购数据标注领导者 Scale AI 的 49% 股份，带来了 Scale 的首席执行官亚历山大·王及其高层领导。</li>
<li>除了王之外，还聘请了顶尖的 AI 人才，组建了一个 “超级智能团队”，从几家领先的 AI 和科技竞争对手中招募了约 50 名研究人员，提供的薪资是其他公司的数倍，传闻有些报价高达 2 亿美元或更多。</li>
<li>知名的挖角人才包括前 GitHub 首席执行官纳特·弗里德曼；曾是 SSI 首席执行官和联合创始人的丹尼尔·格罗斯；伊利亚·苏斯克弗当前创业公司的创始人（苏斯克弗是 OpenAI 的联合创始人）；<strong>苹果</strong>AI 部门负责人庞若鸣；以及来自 OpenAI 的卢卡斯·贝耶、亚历山大·科列斯尼科夫和翟晓华。</li>
</ol>
</div><p>On infrastructure investments, Zuckerberg also shed light on massive upcoming projects:</p>
<div class="lb-trans"><p>在基础设施投资方面，扎克伯格还透露了一些即将到来的重大项目：</p>
</div><ol>
<li>In a Threads post, Zuckerberg said Meta was going to invest &#34;hundreds of billions of dollars&#34; in AI superclusters.</li>
<li>This includes the industry's first 1GW supercluster, which Meta is calling Prometheus and should come online in 2026.</li>
<li>Zuckerberg also said this will be just the first of multiple GW-plus superclusters, including Hyperion, which will eventually scale up to 5 GW over several years, and encompass a data center almost the size of Manhattan.</li>
</ol>
<div class="lb-trans"><ol>
<li>在一条 Threads 帖子中，扎克伯格表示 Meta 将投资 “数千亿美元” 用于 AI 超级集群。</li>
<li>这包括行业首个 1GW 超级集群，Meta 称之为普罗米修斯，预计将在 2026 年上线。</li>
<li>扎克伯格还表示，这将是多个 GW 以上超级集群中的第一个，包括最终将扩展到 5GW 的海波里昂，涵盖一个几乎与曼哈顿大小相当的数据中心。</li>
</ol>
</div><p><img src="https://imageproxy.pbkrs.com/https://g.foolcdn.com/image//query-b3A9cmVzaXplJnVybD1odHRwczovL2cuZm9vbGNkbi5jb20vZWRpdG9yaWFsL2ltYWdlcy84MjU1NjAvZ2V0dHlpbWFnZXMtMjA4NDk1MzA0OS5qcGcmdz03MDA" alt="" original-src="https://g.foolcdn.com/image/?url=https%3A%2F%2Fg.foolcdn.com%2Feditorial%2Fimages%2F825560%2Fgettyimages-2084953049.jpg&amp;op=resize&amp;w=700"/></p>
<p>Image source: Getty Images.</p>
<div class="lb-trans"><p>图片来源：Getty Images。</p>
</div><h2>How does all this spending pay off?</h2>
<div class="lb-trans"><h2>这些支出如何带来回报？</h2>
</div><p>One might wonder what spurred this spending binge from Zuckerberg, and whether it was an offensive or defensive move. The answer, perhaps not surprisingly, is likely both.</p>
<div class="lb-trans"><p>人们可能会想知道是什么促使扎克伯格进行如此大规模的支出，这是一种进攻性还是防御性举动。答案，或许并不令人惊讶，可能是两者兼而有之。</p>
</div><p>Zuckerberg now says Meta is aiming for &#34;super intelligence,&#34; which could be somewhat akin to what was formerly referred to as artificial general intelligence (AGI). The concept of super intelligence, and whether AI is capable of reaching such a thing, has been hotly debated. However, it appears that Zuckerberg now believes super intelligence is achievable, and may be reached within the next few years.</p>
<div class="lb-trans"><p>扎克伯格现在表示，Meta 的目标是 “超级智能”，这可能有点类似于以前所称的人工通用智能（AGI）。超级智能的概念，以及 AI 是否能够达到这样的水平，一直是热议的话题。然而，扎克伯格似乎现在相信超级智能是可以实现的，并可能在未来几年内达到。</p>
</div><p>In a recent interview with tech magazine <em>The Information</em>, Zuckerberg said:</p>
<div class="lb-trans"><p>在最近接受科技杂志《The Information》采访时，扎克伯格说：</p>
</div><blockquote>
<p>There is this big debate in the industry today. All right, is super intelligence going to be possible in three years, five years, seven years? But I don't think anyone knows the answer. I just think that we should bet and act as if it's going to be ready in the next two to three years.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>目前行业内有一个大辩论。好吧，超级智能在三年、五年、七年内是否可能实现？但我认为没有人知道答案。我只是认为我们应该下注并行动，仿佛它将在接下来的两到三年内准备好。</p>
</blockquote>
</div><p>Zuckerberg also believes &#34;super intelligence&#34; may mean different things to Meta than it does to more enterprise-oriented Mag Seven companies. Whereas, say, <strong>Microsoft</strong> might use AI to automate many enterprise functions, leading to an increase in productivity, for Meta, Zuckerberg apparently has a vision of giving consumers &#34;super intelligence&#34; related to their everyday lives, the media they consume, and their social connections.</p>
<div class="lb-trans"><p>扎克伯格还认为，“超级智能” 对 Meta 的意义可能与对更注重企业的七大巨头公司有所不同。比如，<strong>微软</strong> 可能会利用 AI 来自动化许多企业功能，从而提高生产力，而对 Meta 来说，扎克伯格显然设想的是为消费者提供与他们日常生活、所消费的媒体和社交关系相关的 “超级智能”。</p>
</div><p>Zuckerberg also made an interesting note in the interview that the high salaries are worth it, since the ultimate team will likely be small, between 50 and 70 people:</p>
<div class="lb-trans"><p>扎克伯格在采访中还提到，高薪是值得的，因为最终团队可能会很小，只有 50 到 70 人：</p>
</div><blockquote>
<p>I think that the physics of this is, you don't need a massive team to do this. You actually kind of want the smallest group of people who can fit the whole thing in their head. So there's just an absolute premium for the best and most talented people.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>我认为这方面的物理规律是，你不需要一个庞大的团队来完成这项工作。你实际上希望的是能够将整个事情放在脑海中的最小团队。因此，最优秀和最有才华的人才是绝对的优先选择。</p>
</blockquote>
</div><p>This makes sense. The architecting of AI systems is very complex, and if a technician makes a wrong architectural choice along the way, that can affect the performance of the entire model. According to AI chip blog <em>Semianalysis</em>, Meta's recent large language model Llama 4 has been a disappointment, and the reasons were partly due to poor data labeling -- which the Scale AI acquisition should help with -- and a few poor architectural choices.</p>
<div class="lb-trans"><p>这很有道理。AI 系统的架构设计非常复杂，如果技术人员在过程中做出了错误的架构选择，可能会影响整个模型的性能。根据 AI 芯片博客_Semianalysis_的说法，Meta 最近的大型语言模型 Llama 4 表现不佳，原因部分是数据标注不佳——而 Scale AI 的收购应该能帮助解决这个问题——以及一些糟糕的架构选择。</p>
</div><p>Thus, it's perhaps no surprise that Zuckerberg feels investing in a smaller number of high-caliber engineers is the best path. The difference between a winning model and a disappointing model may come down to a few high-level decisions, so it makes sense that Zuckerberg would pay up for quality over quantity for Meta's new AI efforts.</p>
<div class="lb-trans"><p>因此，扎克伯格认为投资于少数高素质工程师是最佳路径也就不足为奇了。一个成功模型与一个令人失望模型之间的差异可能取决于几个高层决策，因此扎克伯格愿意为 Meta 的新 AI 努力支付高价以追求质量而非数量是合理的。</p>
</div><p>Another offensive aspect of this is that Meta has arguably more financial resources than its rivals, especially OpenAI, which is considered a start-up and losing tens of billions at the moment. Last year, Meta's &#34;core&#34; social media advertising business brought in a whopping $87.1 billion in operating income, somewhat offset by a $17.7 billion loss in its Reality Labs division. And that $87 billion is probably on track to reach close to $100 billion this year.</p>
<div class="lb-trans"><p>另一个进攻性方面是，Meta 的财务资源无疑比其竞争对手更为充足，尤其是 OpenAI，后者被视为一家初创公司，目前正在亏损数十亿美元。去年，Meta 的 “核心” 社交媒体广告业务带来了高达 871 亿美元的营业收入，部分被其 Reality Labs 部门的 177 亿美元亏损所抵消。而这 871 亿美元今年可能有望接近 1000 亿美元。</p>
</div><p>Therefore, Meta has the ability to pay as much or more than its rivals, and by paying these types of astronomical salaries, it's raising the costs of employment for everybody -- OpenAI included. Zuckerberg continued:</p>
<div class="lb-trans"><p>因此，Meta 有能力支付与其竞争对手相同或更多的薪资，通过支付这些天文数字的薪水，它提高了所有人的就业成本——包括 OpenAI。扎克伯格继续说：</p>
</div><blockquote>
<p>... one of the benefits of reinforcement learning is it gives you a venue to, you know, potentially convert very large amounts of capital into a better and better service, and potentially a better service than other less well-funded or less bold competitors will be able to do so... I view that as a competitive advantage. If we can get this to work well, and that's why we are basically all in on this. We're building, you know, we're building multiple, multi-gigawatt data centers, and we can basically do this all funded from the cash flow of the company.</p>
</blockquote>
<div class="lb-trans"><blockquote>
<p>... 强化学习的一个好处是，它为你提供了一个场所，可以将大量资本转化为越来越好的服务，甚至可能比其他资金较少或不够大胆的竞争对手提供更好的服务……我将其视为一种竞争优势。如果我们能让这一切运作良好，这就是我们全力以赴的原因。我们正在建设多个多吉瓦的数据中心，基本上可以通过公司的现金流来资助这一切。</p>
</blockquote>
</div><h2>But the move may also be defensive, and isn't without risks</h2>
<div class="lb-trans"><h2>但这一举动也可能是出于防御考虑，并且并非没有风险</h2>
</div><p>While the &#34;all-in&#34; spending binge from Zuckerberg is exciting, investors should also be wary of a few things. First, it appears Meta's AI super intelligence dream team will be essentially starting from scratch. This is likely due to Meta's recent efforts on its Llama 4 LLM coming up short of expectations, or at least falling further behind its other competitors than Zuckerberg would like. So, it appears Meta's latest attempt at leading AI is a bit of a bust, raising questions about the need to put all its chips into the pot, so to speak, at this moment.</p>
<div class="lb-trans"><p>虽然扎克伯格的 “全力投入” 消费狂潮令人兴奋，但投资者也应警惕一些事情。首先，Meta 的 AI 超级智能梦之队似乎将基本上从零开始。这可能是由于 Meta 最近在 Llama 4 LLM 上的努力未能达到预期，或者至少在与其他竞争对手的竞争中落后于扎克伯格的期望。因此，Meta 最新的 AI 领导尝试似乎有些失败，这引发了关于此时是否有必要将所有筹码都押上的疑问。</p>
</div><p>It has also been reported that Zuckerberg wasn't able to successfully acquire all the companies and talent that he wanted. In addition to Scale AI, Zuckerberg reportedly also wanted to acquire Mira Murati's Thinking Machines and Ilya Sustkever's SSI, but was rebuffed in both cases. It was also reported Zuckerberg extended billion-dollar offers to some of OpenAI's leadership team, but was also rebuffed. So, while Meta now has perhaps the most formidable AI &#34;dream team&#34; around, it isn't a &#34;full&#34; dream team necessarily.</p>
<div class="lb-trans"><p>还有报道称，扎克伯格未能成功收购他想要的所有公司和人才。除了 Scale AI，扎克伯格还 reportedly 想收购 Mira Murati 的 Thinking Machines 和 Ilya Sustkever 的 SSI，但在这两种情况下都遭到了拒绝。据报道，扎克伯格还向 OpenAI 的部分领导团队提出了数十亿美元的收购要约，但也遭到了拒绝。因此，尽管 Meta 现在可能拥有最强大的 AI“梦之队”，但这并不一定是一个 “完整” 的梦之队。</p>
</div><p>Finally, Meta has a history of throwing money at certain far-off ventures, without immediate tangible outcomes. Look no further than the Reality Labs segment, which is basically Zuckerberg's gambit to create the &#34;next computing platform&#34; of virtual reality goggles or glasses. Meta even changed its name from Facebook to Meta Platforms in 2021 to show its commitment to the effort. However, in 2024, three years later, that segment lost $17.7 billion, up from a $16.1 billion loss in 2023.</p>
<div class="lb-trans"><p>最后，Meta 有在某些遥远的风险投资上投入资金的历史，而没有立即的实质性成果。看看 Reality Labs 部门，这基本上是扎克伯格创造 “下一个计算平台” 的赌注，即虚拟现实眼镜或眼镜。Meta 甚至在 2021 年将其名称从 Facebook 更改为 Meta Platforms，以显示其对这一努力的承诺。然而，到 2024 年，三年后，该部门的亏损达到了 177 亿美元，较 2023 年的 161 亿美元亏损有所增加。</p>
</div><p>Finally, Zuckerberg didn't really spell out what he exactly meant by an everyday consumer &#34;super intelligence.&#34; While both the Reality Labs division and the concept of consumer super-intelligence may one day come to fruition, it's not assured -- even with Zuckerberg assembling an AI &#34;dream team.&#34; So while this past month's spending is exciting, look for investors to get impatient if Meta's spending goes up without a corresponding growth in revenue.</p>
<div class="lb-trans"><p>最后，扎克伯格并没有明确说明他所说的日常消费者 “超级智能” 究竟意味着什么。虽然 Reality Labs 部门和消费者超级智能的概念可能有一天会实现，但这并不确定——即使扎克伯格组建了一个 AI“梦之队”。因此，尽管上个月的支出令人兴奋，但如果 Meta 的支出增加而收入没有相应增长，投资者可能会变得不耐烦。</p>
</div><h2>And yet, the spending makes Meta a must-own stock</h2>
<div class="lb-trans"><h2>然而，这一支出使 Meta 成为必买股票</h2>
</div><p>If one of today's current tech leaders reaches &#34;super intelligence&#34; before the others, it has the potential to disrupt the balance of power among today's Magnificent Seven. That's why any young person or growth investor should have exposure to Meta and its rivals, in spite of their massive AI spending today.</p>
<div class="lb-trans"><p>如果今天的某个科技领袖在其他公司之前实现了 “超级智能”，它有可能打破今天七大巨头之间的权力平衡。这就是为什么任何年轻人或成长型投资者都应该接触 Meta 及其竞争对手，尽管他们今天在 AI 上的支出巨大。</p>
</div><p>If and when one of these companies &#34;cracks the code&#34; before others, it's possible the Magnificent Seven could become the Magnificent Three, Two... or even One. With his moves over the past month, Zuckerberg is investing heavily to make sure Meta is one of the leading candidates to become that &#34;one.&#34;</p>
<div class="lb-trans"><p>如果这些公司中的某一个在其他公司之前 “破解了代码”，那么七大巨头可能会变成三大、两大……甚至一大。通过过去一个月的举动，扎克伯格正在大力投资，以确保 Meta 成为那个 “唯一” 的领先候选者之一。</p>
</div><p>Investors should keep their ears out for more information when Meta reports earnings at the end of the month on July 30.</p>
<div class="lb-trans"><p>投资者应关注 Meta 在 7 月 30 日月底报告财报时的更多信息。</p>
</div>

Meta CEO Mark Zuckerberg Just Assembled a "Super Intelligence Avengers" Team That Could Totally Change the Game in Artificial Intelligence (AI). Here's Why That Makes Meta a "Must-Own" AI Stock.

- 扎克伯格在 AI 领域进行大规模投资，收购 Scale AI 并组建顶尖团队。  
- Meta 计划在 AI 超级集群上投资数百亿美元，目标是实现 “超级智能”。  
- 投资者需关注 Meta 的财务表现，以评估其 AI 投资的回报。

Meta 首席执行官马克·扎克伯格刚刚组建了一支 “超级智能复仇者” 团队，这可能彻底改变人工智能（AI）领域的游戏规则。这就是为什么 Meta 成为 “必持有” 的 AI 股票