Updated
Meta’s plans to spend billions on AI unsettle investors
Joshua PeachMarkets reporter
Updated
Meta’s plans to spend billions of dollars on artificial intelligence has been met with investor scepticism despite higher earnings at the Facebook and Instagram operator.
Meta chief executive Mark Zuckerberg used a first quarter financial update to flag a $US3 billion ($4.6 billion) increase in spending on AI, adding the company was well-placed to become “the leading AI company in the world”.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Equity markets
Fetching latest articles