Meta Platforms CEO Mark Zuckerberg announced the social media company plans to spend as much as $65 billion this year alone to build on its artificial intelligence efforts.

Meta chief executive Mark Zuckerberg on Friday said the tech giant plans to invest at least $60 billion in artificial intelligence in 2025, aiming to lead in the technology.

The company intends to use the funds to build a data center “so large that it would cover a significant part of Manhattan,” Zuckerberg said in a Facebook post.

AI cryptocurrencies endured a bloodbath on Monday, plunging by double-digits on their daily charts as Bitcoin dropped below $100,000. The market capitalization of all AI tokens crashed by 13.7% in the past 24 hours to $35.

Technology shares around the world slid on Monday as a surge in popularity of a Chinese discount artificial intelligence model shook investors' faith in the AI sector's voracious demand for high-tech chips.