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Meta stock falls on AI funding reports
Shares of Meta Platforms declined by 7% following reports that the company is studying a large-scale stock offering to fund its investments in artificial intelligence, aimed at supporting the concept of "personal superintelligence" across its platforms such as Facebook, WhatsApp, and Instagram. Capital expenditures related to AI are expected to reach $145 billion this year, with an increase anticipated in 2027, amid the success of major companies like Alphabet in raising billions of dollars through similar offerings. The plans are still in their early stages, with no investment banks appointed yet, as the company seeks to significantly fund its technological ambitions.
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