Meta (META) Plans Increased AI Spending Up to $145 Billion
Published on Β· Source: bbc.com
AI Summary
Summarized by AI from the source belowMeta's (META) capital expenditure is set to increase to a maximum of $145 billion from the previous projection of $135 billion, as announced in their latest quarterly results. In after-hours trading, Meta's shares fell over 5%, while Microsoft (MSFT) and Amazon (AMZN) saw declines of 2% and 1.6% respectively, although there were signs of recovery later. Alphabet (GOOGL) reported a nearly 6% increase in its stock price due to positive assessments regarding its AI investments for 2023, which are projected at $185 billion. Investor anxiety persists regarding the sustainability and returns from the rising costs associated with AI development.
Informational only, not financial advice. Content is AI-generated and may contain errors. How this works.
About Amazon.com Inc. (AMZN)
Amazon is the largest U.S. e-commerce retailer and, through Amazon Web Services (AWS), the leading cloud-infrastructure provider, with growing advertising and logistics arms.
The Consumer Discretionary sector covers retailers, automakers and leisure companies whose sales rise and fall with consumer confidence.
Earlier AMZN news
- Amazon (AMZN) Raises Price Target After Strong Quarterly Performance
- Facebook (META) Stock Drops 6.5% Amid AI Spending Forecasts
- S&P 500 Futures Flat Amid Oil Rise and Fed Decision
- Data Centers and Market Trends: Growth and Demand Shift Insights
- OpenAI Codex Now Available on Amazon Bedrock for Developers
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