BusinessPhoto: Mint MarketsMeta Shares Fall 7.5% Despite Strong Q3 Results on AI Spending Concerns
Meta Platforms' shares dropped 7.5% to $644.30 on October 22 as investors grew concerned about the company's aggressive AI investments despite better-than-expected Q3 earnings. Meta raised its full-year capital expenditure forecast to $135-$145 billion and introduced a new class of non-voting shares to fund acquisitions. The spending supports Meta's plan to center its AI strategy around the Muse AI agent, aiming to turn AI into a consumer revenue source.
Mint Markets·


