Carol Masser

Anurag, thank you so much.

Bloomberg Intelligence Senior Technology Analyst Anurag Rana.

James Chokmok, though, still with us.

Right now, we want to get more meta platforms.

Bloomberg News Senior Technology Reporter Kurt Wagner with us.

He is author of Battle for the Bird, Jack Dorsey, Elon Musk, and the $44 billion fight for Twitter's soul.

He's out there in the Bloomberg San Francisco Bureau.

Take it away, meta.

What jumps out for you?

Because right now, we're looking at a stock that's up here in the aftermarket.

Yeah, I mean, on the live blog, you guys, I think you put this out, Kurt.

Family, daily, active people, $3.58 billion, an increase of 7% year over year.

And then the average price per ad increased by 6% to 9% year over year for the fourth quarter and full year, 2025, respectively.

So, I mean, this is showing that they're investing in AI.

We're seeing it on the platform.

We're seeing it in the ad dollars.

But are they right?

But Kurt, is it?

Are we seeing it in the numbers?

All right.