Meta Stock Drops 15% After Announcing Major AI Investment 🚨

Meta's stock price fell 15% when markets opened on Thursday, wiping $190 billion off its market value. This was in reaction to Meta's pledge to increase spending on artificial intelligence technologies significantly. Meta CEO Mark Zuckerberg said AI spending would need to "meaningfully" grow before the company could generate much revenue from new AI products. The share decline followed a record gain in Meta's market value in February when it announced its first dividend. Meta recently released updates to its AI model and image generator to expand their capabilities.