The generative AI gold rush is underway — just don’t expect it to create profits anytime soon.
The company is already quite profitable, having grown net income to more than $12 billion on $36.5 billion in revenue in the last quarter alone. But its revenue growth is expected to slow going forward. At the same time, it’s spending more than ever on AI and the metaverse.
“Historically, investing to build these new scaled experiences in our apps has been a very good long-term investment for…
