Meta's AI Spending Forecast Surges to $145 Billion, Stock Drops
Meta's stock fell despite beating revenue estimates and posting strong profit growth, as the company raised its capital expenditure forecast for AI investments to $145 billion, rattling investors.
Key facts
- Meta beat revenue estimates
- Meta posted strong profit growth
- Meta raised capital expenditure forecast to $145 billion
- The spending increase is for AI investments
- Investors were rattled by the forecast
- Meta's stock fell after the announcement
Entities
Institutions
- Meta
Sources
- Quartz —