Meta Platforms has appointed former Trump adviser Dina Powell McCormick as President and Vice Chairman. On Monday, Meta stated that Powell McCormick will help guide the company's overall strategy and execution, and she is expected to collaborate with the company's computing and infrastructure teams on multi-billion dollar investments. Former U.S. President Donald Trump posted a congratulatory message for Powell McCormick on social media. He wrote: "A GREAT pick by Mark Z!!!" referring to Meta CEO Mark Zuckerberg. Trump added: "She is a fantastic and very talented person who served with distinction in the Trump Administration!" Meta is accelerating its development of superhuman intelligence, having previously invested heavily in talent and initiated significant investments in new data centers and related infrastructure. The company is constructing a $27 billion data center in Louisiana and last week announced agreements under which Meta will become an anchor customer for new and existing nuclear power projects in the United States to secure electricity for its massive computing needs. Dina Powell McCormick's appointment also comes as Meta continues its efforts to deepen ties with the current administration. In a post on Threads announcing her new role, Zuckerberg said: "She will be involved in all of Meta's work, with a particular focus on collaborating with governments and sovereign nations to build, deploy, invest in, and fund Meta's AI and infrastructure." Dina Powell McCormick brings over 25 years of experience, including 16 years at Goldman Sachs where she held partnership and senior leadership roles. Born in Egypt, she spent over a decade in various U.S. government positions early in her career, including serving as Deputy National Security Advisor for Strategy under President Trump. At Goldman Sachs, she was the Global Head of Sovereign Business, focusing on strengthening the investment bank's relationships with government-backed funds, particularly in the Middle East. She left Goldman Sachs in 2023 to join an investment and advisory firm run by former partners of the Wall Street firm. Her husband, David McCormick, a Republican, won a key Pennsylvania Senate primary in 2024 and served as Under Secretary of the Treasury for International Affairs during the George W. Bush administration. Dina Powell McCormick joined Meta's board in April of last year and resigned in December. Last fall, Meta's investors began growing nervous about the company's plans for significant spending on AI infrastructure this year, due to the lack of a clear timeline for seeing returns. After Zuckerberg indicated that Meta's spending would accelerate, surpassing the $72 billion it had projected last year for AI development, the company's stock fell more than 7% in after-hours trading. Meta has been striving to catch up in the AI race, making substantial investments, offering compensation packages ranging from tens of millions to hundreds of millions of dollars, and acquiring startups, including the purchase of Singapore-based Manus for over $2 billion. Investors have started to lose patience, with Meta's stock price falling nearly 9% over the past three months. Dina Powell McCormick's new appointment appears insufficient to alleviate investor concerns. Meta's stock edged lower in Monday's pre-market trading.
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