The fortune of Meta* founder and CEO Mark Zuckerberg on Thursday, February 2, increased by a record $12.5 billion. Such a significant increase was facilitated by a rally in bigtech stocks on the back of the company’s strong results, Bloomberg writes.

On Wednesday, February 1, after the close of the main trading session in the U.S. Meta* presented a strong report for the fourth quarter, the company also gave an encouraging outlook for the current quarter.

Although revenue fell 4%, it exceeded analysts’ forecasts of $32.17 billion instead of the expected $31.53 billion, with the company saying that its revenue could be higher in the current quarter. Earlier, the IT giant reported several consecutive quarterly revenue declines.

The corporation also announced a $40 billion increase in its buyback program and said it would further streamline its business. Earlier Meta* cut 11,000 employees or 13% of its staff. The head of the corporation himself stated that this is just the beginning of optimization.

In addition, Zuckerberg said that the company is using artificial intelligence to improve content recommendations. According to him, this can make the platform more attractive for users and advertisers. Previously, the number of advertisers decreased due to the weakness of the overall economy as well as changes in privacy rules on Apple (NASDAQ:AAPL)’s iPhone.