Meta Stock: Should Investors Worry About AI Spending Offensive? investors.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investors.com Daily Mail and Mail on Sunday newspapers.
Investors appear to be losing
patience with Big Tech s prodigious artificial intelligence
investments this week after Meta Platforms signaled
deeper spending and a long road to profitability. .
Investors appear to be losing patience with Big Tech's prodigious artificial intelligence investments this week after Meta Platforms signaled deeper spending and a long road to profitability. The concession from Meta in its quarterly report late on Wednesday cast a cloud over Microsoft and Alphabet , which will both report quarterly earnings on Thursday, Reuters said. Meta's stock sank 15% in extended trade after it forecast higher AI spending next year, while Microsoft was down 2%, Alphabet fell 3% and Nvidia dropped 1.4% in reaction.
During Meta s earnings conference call, analysts peppered CEO Mark Zuckerberg with questions about how the company was pacing its AI investments. One analyst asked whether Meta was spending more because it saw an even bigger opportunity from AI.
AI Spending Worries Cast Gloom Over Alphabet, Microsoft usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.