Meta shares fall as frustration grows over AI spending plans
- Shares in the firm behind Instagram and Facebook fell as much as 11% in extended trading after its results for the quarter from April to June showed revenue grew 28% from a year ago to $61bn (£45.6bn), while profits fell 14% to $6bn.
- Meta said it would spend $130bn to $145bn this year, mostly on AI, up from the $125bn it said it p
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- Shares in the firm behind Instagram and Facebook fell as much as 11% in extended trading after its results for the quarter from April to June showed revenue grew 28% from a year ago to $61bn (£45.6bn), while profits fell 14% to $6bn.
- Meta said it would spend $130bn to $145bn this year, mostly on AI, up from the $125bn it said it p
Sources: BBC News