Meta's stock surged over 10% following a strong Q2 earnings report, with revenue reaching $47.5 billion, a 22% increase year-over-year. Daily active users across its platforms, including Facebook and Instagram, grew to nearly 3.5 billion. Despite significant investments in AI and data centers, CEO Mark Zuckerberg emphasized that the company's robust performance allows for continued heavy investment in AI initiatives, which are already enhancing ad conversion rates on its platforms.

The company is shifting focus from the metaverse to AI, with Zuckerberg's new priority being the development of superintelligent AI. This transition is supported by a new AI model that has improved ad performance, driving higher conversion rates. While Meta continues to invest in its Reality Labs division for the metaverse, the immediate financial benefits from AI are evident, positioning the company favorably in a competitive landscape.