Why Meta Platforms Stock Surged Today
Yahoo Finance ·
Shares of Meta Platforms ( META +8.88% ) spiked on Wednesday, following reports that the social media titan plans to sell its excess computing capacity to recoup some of its enormous artificial intelligence (AI) spending. CEO Mark Zuckerberg has been ultra-aggressive in his efforts to build Meta into an AI powerhouse. From billion-dollar acquisitions to reportedly offering top AI researchers $100 million recruiting bonuses, Zuckerberg is sparing no expense. In all, Meta plans to spend as much as $145 billion on capital expenditures in 2026 alone.
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