Mark Zuckerberg keeps talking about “superintelligence.” Meta’s stock is soaring for a less exciting reason

Meta Platforms reported strong second-quarter earnings with a 22% year-over-year revenue increase. CEO Mark Zuckerberg is increasingly focused on the concept of "superintelligence," envisioning a future where personalized AI enhances human capabilities. He believes superintelligence is within reach and will significantly accelerate human progress. Zuckerberg also suggested that intelligent personal devices like glasses will replace phones and laptops as primary computing devices. Wall Street research firm MoffettNathanson is confident in Meta's growth, particularly its AI-driven monetization and engagement strategies that boost ad revenue. However, the firm expressed skepticism about Meta's ability to displace traditional phones with its envisioned super-intelligent devices. Meta's costs and expenses have also risen, with significant future investment planned. Despite these rising costs, Meta continues to see success in advertising sales, which remain the primary revenue driver. The company's stock saw a significant increase following the positive earnings report, indicating investor confidence. For now, Meta's financial performance suggests investors are not concerned about the company's ambitious AI spending.