Deadline·2 min read·medium
Meta Stock Tanks In Jittery Market On Massive AI Investment, Mixed Q2 - Deadline
J
Jill Goldsmith
✦AI Summary
Meta shares dropped over 8% following the company's announcement of a massive $130 billion to $145 billion investment in artificial intelligence. The company also reported a miss on quarterly earnings expectations and provided soft revenue guidance.
Meta shares plunged more than 8% in the after market as it said it plans to invest between $130 billion and $145 billion on AI this year. The parent of Facebook, Instagram and WhatsApp also missed Wall Street's Q2 earnings per share forecast and anticipated softer than expected revenue in the current third quarter. Revenue [...]
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