Almost $200bn wiped off Meta's value as markets balk at Zuckerberg's AI spending plans
by Daniel O'Boyle
Apr 25, 2024
1 minute
Almost $200 billion was wiped off of Facebook and Instagram owner Meta’s market cap today, as the firm’s AI spending plans alarmed investors.
The social media giant reported its first quarter last night, after closed. Its results for the three-month period beat expectations, but traders looked past those strong numbers and focussed on forward spending guidance.
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