Meta reported Q2 2025 revenue of $47.5 billion, up 22% YoY. Ad revenue reached $46.6 billion, driven by better targeting and AI-powered optimisation. Operating margin expanded to 43%, the highest in years, and free cash flow clocked in at $8.5 billion.

Meta is shifting how it plans to ensure widespread access to superintelligence, a suggestion that the company’s most advanced AI may remain closed so that Meta can stay in the driver’s seat.

It's crunch time for Mark Zuckerberg as he pulls out all the stops to stay relevant in Silicon Valley's intensifying advanced artificial intelligence race.