Meta shares slide as plan to spend billions more on AI spooks investors
Other tech giants Alphabet, Microsoft and Amazon also reported quarterly earnings on Wednesday.
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Other tech giants Alphabet, Microsoft and Amazon also reported quarterly earnings on Wednesday.
Meta reported strong Q1 2026 earnings, surpassing expectations, but announced a significant increase in capital expenditures for AI initiatives, leading to a stock decline.
Meta's announcement of increased AI investments raised investor concerns, causing a significant drop in share prices.
Meta's increased AI spending led to a 7% drop in shares, amid broader concerns over Big Tech's AI investments.
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