Shareholders scarper as Meta ups AI investment

AI Investment Notícia

Shareholders scarper as Meta ups AI investment
Meta,Mark Zuckerberg

Meta shares plunged 14% in pre-market trading on Thursday after news of its planned spending on AI unnerved investors.

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shares plunged 14% in pre-market trading on Thursday as the social media firm’s comments around prolonged spending on artificial intelligence unnerved investors.

Analysts at Baird had a similar take, saying: “Meta’s report reminds us that sustaining growth through innovation requires investment cycles; and in our view, it would be foolish for … to ignore meaningful opportunities created by technology shifts for the sake of shorter-term financial outcomes.” CEO Mark Zuckerberg told analysts on a conference call that the focus on AI would “grow our investment envelope meaningfully before we make much revenue from some of these new products”.

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