META STOCK PLUNGES MORE THAN 10% AS ANALYSTS CUT PRICE TARGETS ON SKY-HIGH AI SPENDING
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✍️ Meta's stock fell 11% after the company announced plans to increase AI spending, citing demand for AI-powered ad tools and infrastructure.
👉 Meta plans to increase AI spending for the rest of the year and in 2026 👉 Demand for AI-powered ad tools and infrastructure is driving the spending 👉 CEO Mark Zuckerberg acknowledged that the company could overshoot and absorb extra computing capacity 👉 Analysts at several banks slashed their price targets on Meta's stock 👉 Meta reported an annual run rate of $60 billion for its AI-powered ad tools
-- #MarkZuckerberg #JustinPost #JustinPatterson #JohnBlackledge #BrianNowak #EricSheridan #RonJosey #DeepakMathivanan #NicolasCote-Colisson #ScottDevitt #MikeProulx #business
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