Mendelsohn, who oversees Meta’s multi-billion dollar ad business, believes the tech giant has been ‘underestimated’ and is ‘bullish’ about its new focus.
Big Tech companies have a new obsession: artificial intelligence. This week, chief executives across the sector packed earnings calls with mentions of the heavily hyped technology, which until recently existed more in the background than as a solid contributor to the bottom line. In conference calls after financial results, tech execs uttered the phrases "AI," "generative AI," or "machine learning".
After a challenging 2022 in which advertising-dependent companies faced shrinking budgets and cratering stock prices, fourth-quarter results this week from Alphabet, Meta Platforms and Snap showed. | February 3, 2023