Mark Zuckerberg Loses $25 Billion—Now World’s Fifth-Richest As Meta Shares Plummet

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

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 percen…

Mark Zuckerberg Loses $25 Billion—Now World’s Fifth-Richest As Meta Shares Plummet

Earnings fell significantly below Wall Street’s expectations, though Meta said it would have exceeded projections before a hefty tax charge.

The AI boom isn't going anywhere – RamaOnHealthcare

The AI spending spree continues. It's only getting bigger, in fact, and the sums more astronomical.Why it matters: The longer the boom can keep carrying