Meta Exceeds $1 Trillion , in Market Cap.
On Jan. 24, Meta closed at $390 a share to
pass $1 trillion in market cap, CNBC reports. .
The last time that the company surpassed $1 trillion in market cap was in 2021 under the Facebook name.
The last time that the company surpassed $1 trillion in market cap was in 2021 under the Facebook name.
That was also the first time
the company reached the milestone. .
Meta's improved stock performance
follows a surge of almost 200% last year.
The surge came as CEO Mark Zuckerberg implemented cost-cutting tactics such as laying off over 20,000 people.
The surge came as CEO Mark Zuckerberg implemented cost-cutting tactics such as laying off over 20,000 people.
Zuckerberg referred to 2023 as a
"year of efficiency," CNBC reports. .
The CEO recently announced that
Meta will acquire 350,000 H100 Nvidia graphics cards by the end of 2024...
The CEO recently announced that
Meta will acquire 350,000 H100 Nvidia graphics cards by the end of 2024...
... in addition to "almost 600k H100 equivalents
of compute if you include other GPUs." .
Meanwhile, Microsoft hit a market cap milestone
on Jan. 24 as well, briefly passing $3 trillion