Meta Announces $145 Billion AI Spending Plan, Shares Drop 10%
Meta's shares fell 10% after the company announced a $145 billion AI spending plan, with concerns over the sustainability of its investment. The increase in capital expenditure from $135 billion to $145 billion raised doubts among investors about the potential return on such a large investment. The move comes as other tech giants like Microsoft and Amazon also reported results, with mixed reactions from the market.
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Topics: AI spending capital expenditure investor sentiment Meta stock price drop Zuckerberg