Nathaniel Whittemore

So that kicks us off with the high level, but let's dive in and go a little bit deeper.

The theme of Meta's earnings call was full steam ahead on AI regardless of costs.

Mark Zuckerberg painted a bold vision of what the next few years of Meta's AI product would look like.

Now seen as one of the early, if not only, winners in AI wearables, Zuckerberg is doubling down on making Meta Ray-Bans the default options for portable AI.

He told investors, billions of people wear glasses or contacts for vision correction, and I think that we're at a moment similar to when smartphones arrived, and it was clearly only a matter of time until all those flip phones became smartphones.

It's hard to imagine a world in several years where most glasses that people wear aren't AI glasses.

And while one could be forgiven for being a little bit concerned about hyperbole there, frankly, Meta's numbers sort of validate that vision.

Sales have tripled over the past year, which Zuckerberg characterized as some of the fastest growing consumer electronics in history.

Now, when it comes to AI models, Meta has so far failed to make contact with the consumer, but it's clear they hope to turn that around with their next generation.

Zuckerberg basically characterized 2025 as a rebuilding year.

And although he didn't make this comparison, Google's turnaround on AI of a couple of years ago to now has to be on the forefront of investors' minds.

Said Zuckerberg, In 2025, we rebuilt the foundations of our AI program.

Over the coming months, we're going to start shipping our new models and products, and I expect us to steadily push the frontier over the course of the new year.

Unlike some of the other AI companies, for Zuckerberg, commerce is the clear focus.

He talked, for example, about new agentic shopping tools that will allow people to find just the right set of products from the businesses in our catalog.

Meta also aims to catch up on agents, which are, of course, dominating the enfranchised insider conversation as new products like Cloudbot demonstrate just how far the technology can go.

Zuckerberg said, We're starting to see the promise of AI that understands our personal context, including our history, our interests, our content, and our relationships."

A lot of what makes agents valuable is the unique context that they can see, and we believe that Meta will be able to provide a uniquely personal experience.

Now on top of all that chatter, the actual earnings were incredibly strong, giving Meta a solid base to pursue these bets.

Meta delivered a year-over-year growth rate of 24%, which blew analyst estimates out of the water.