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Stock impact report

Meta chief Zuckerberg doubles down on AI spending [Yahoo! Finance]

Meta Platforms, Inc. - Class A (META) 
Company Research Source: Yahoo! Finance
Kevin Dietsch/GETTY IMAGES NORTH AMERICA/Getty Images via AFP Meta chief Mark Zuckerberg on Wednesday defended massive spending on artificial intelligence that dragged down shares despite strong earnings boosted by the technology. The social networking colossus raised its capital expenditures for this year to a range of $125 billion to $145 billion without laying out exactly how that investment would translate into profit. "The way to think about the investment is that we're making a bet (on) the individual things that people care about, and that people are going to be more important in the future," Meta chief Mark Zuckerberg said during an earnings call, as analysts pressed him about the company's heavy spending on AI. He gave the example of a hot trend in "agentic" AI in which digital assistants handle computer tasks independently at the behest of people. "There are a lot of agents out there that people are building for different things, and there aren't that many that I Show less Read more
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