Meta Increases AI Spending Forecast Despite Strong Revenue Growth
Despite reporting accelerated revenue growth in the last quarter—the fastest in five years—Meta (META) stock plummeted over 9% after raising its full-year capital expenditure forecast by $10 billion. The company attributed increased spending to higher component pricing and data center costs for AI, but investors remain uncertain about how Meta will monetize these investments.
Topics: AI investment capital expenditures earnings market reaction Meta stock performance