Reported 1 day ago
Meta's stock plummeted more than 10% after the company announced plans to increase its AI spending, leading analysts to downgrade their price targets. CEO Mark Zuckerberg explained the company is responding to rising demand for AI, despite the risk of overbuilding capacity. This move followed a $4 billion loss in its Reality Labs segment and mixed reactions from analysts, with some maintaining or even raising their price targets.
Source: YAHOO