Meta Shares Fall as Frustration Grows Over AI Spending Plans Meta's shares plummeted 11% on Wednesday, a stark reminder that even the most ambitious investments can be met with skepticism when profits dwindle.
The company's promise to spend $130 145 billion this year on artificial intelligence projects has raised eyebrows among investors, who are questioning whether these efforts will yield returns.
Meta's free cash flow for the quarter was $784 million, its lowest level in at least five years. This is not a minor blip – it's a clear indication that Meta's AI spending spree is eating into its profits.