Meta (META) Plans $145B AI Investment Amid Workforce Cuts

Meta Platforms, Inc. (META) plans to invest up to $145 billion in AI infrastructure this year, part of over $700 billion anticipated spending across big tech. CEO Mark Zuckerberg noted that the progress of the company's AI agents has been slower than expected. In connection with this investment, Meta has laid off approximately 10% of its workforce and reassigned about 7,000 employees to focus on AI. This restructuring aims to optimize operations and improve efficiency using AI tools and technologies, which could impact future productivity and performance.