Reported 26 days ago
Meta Platforms Inc. CEO Mark Zuckerberg announced significant investments in AI and other futuristic technologies, even as the company's losses from its Reality Labs division are expected to increase this year. The advertising business, which funds these efforts, did not meet Wall Street's expectations, leading to a drop in stock price. Despite reporting a 19% sales increase for the quarter, Meta is focused on AI to enhance engagement on its social platforms, specifically Facebook and Instagram. Zuckerberg aims to reframe Meta as an AI innovator while navigating challenges in funding its ambitious projects.
Source: YAHOO