Meta's Stock Drops Amid Rising Costs for AI and AR Expansion 🚀
Meta increases 2024 spending to boost AI and augmented reality infrastructure, leading to a dip in share price as investors assess the higher investment costs.
Benzinga
360 views • Oct 31, 2024
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Meta raised its 2024 capital expenditure forecast as its infrastructure expands for AI projects. This increase comes as Meta accelerates its data center and AI computing capacities, driving rising costs. Meta’s spending includes substantial investments in Nvidia GPUs, with further cost growth expected in 2025. Meta’s share price fell in extended trading, reflecting investor concerns over user growth and rising expenses. Meta's augmented reality unit reported a loss of more than $4 billion for the quarter.
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360
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0:38
Published
Oct 31, 2024
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