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Meta Stock Plummets as Investors Horrified at How Much Zuckerberg Is Spending on Misfired AI

April 26, 2021 | Futurism AI
Meta Stock Plummets as Investors Horrified at How Much Zuckerberg Is Spending on Misfired AI
Getty / Futurism Mark Zuckerberg’s Meta is spending untold billions on infrastructure and top talent for its AI ambitions. In fact, the CEO announced during the company’s earnings call on Wednesday, Meta will be spending between $70 billion and $72 billion on AI this year — up from its previous estimate of $66 billion to $72 billion, as CNBC reports. Unsurprisingly, that cash bonfire isn’t going over well with investors. Meta’s shares slid by more than 11