Reported about 6 hours ago
Meta Platforms Inc. is facing significant stock declines, reminiscent of its previous metaverse overspending, due to investor fears over its escalating investments in artificial intelligence, projected to reach $72 billion this year. Despite beating earnings expectations, Meta shares fell nearly 17% in four days, with analysts noting parallels between its Superintelligence Labs spending and previous issues with metaverse projects. While revenue growth is projected, the lack of immediate payoff for these investments has raised skepticism among investors about the company's financial strategy.
Source: YAHOO