Meta shares drop after warning of weak revenue growth, higher AI expenses
by New York Post
New York Post— Meta’s shares dropped about 10% in extended trade following the report, evaporating $125 billion worth of stock market value.
The Guardian—Meta says revenue will be weak as it spends even more on AI. Push to integrate AI into Meta products boosts financial results, but share prices tumble with weak sales forecastMeta’s drive to integrate artificial intelligence into its products yielded strong financial results for the second quarter in a row. The company plans to spend even more on AI in the coming months, though, and its share price slumped more than 15% as the company reported earnings Wednesday. A weak sales forecast and higher spending guidance rattled investors.Mark Zuckerberg said his...
NextBigFuture.com—Meta Free AI Models and Integrating AI Ask Meta Query Into Facebook and Instagram. Meta has put Meta AI front and center in the search bars for Facebook and Instagram that have served as key tools to find content from particular friends or creators. This is what the All-in-Podcast guys called scorched Earth for AI. This means almost no one will pay the $20 per month or other subscriptions
The Telegraph—Meta shares sink as AI doubts rise. Shares in Meta plunged on Wednesday after the US tech giant revealed plans to increase spending on artificial intelligence (AI) technology.