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Meta stock surges after Q2 results blow past expectations despite heavy AI spending

August 11, 2021 | TechXplore AI
Meta stock surges after Q2 results blow past expectations despite heavy AI spending
The Facebook logo is seen on a cell phone in Boston, USA, Oct. 14, 2022. Credit: AP Photo/Michael Dwyer, File Meta's artificial intelligence spending spree appears to be paying off with investors, who sent the company's stock soaring after hours on Wednesday following a blowout quarterly earnings report. The Menlo Park, California-based company easily beat Wall Street's expectations for the second quarter, helped by higher advertising revenue and a growing