Wall Street is eyeing a new burst of growth for Meta
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Key Takeaways Meta Platforms is set to release quarterly results Wednesday afternoon, and the stock is expected to make a big move following the report.Revenue and profits are estimated to have risen from the year-ago period,
By Katie Paul and Jaspreet Singh April 29 (Reuters) - Meta Platforms raised its annual capital spending forecast on Wednesday, signaling plans to pour billions more into artificial intelligence infrastructure even as it confronts potential losses from a global youth backlash against social media.
Meta is losing billions on Reality Labs each quarter, and its AI expenditures are only going to increase its spending.
Meta’s $145 billion is a dramatic increase from the $72 billion capital expenditure it recorded just last year, and Zuckerberg is betting it all on an AI turnaround effort.