META STOCK (FACEBOOK) PLUNGES 11%
🔸 Meta's stock dropped more than 11% despite the company announcing very good Q3 results.
🔸 Investors are concerned as Meta raises its AI spending plan for 2025 to $70–72 billion.
🔸 CEO Mark Zuckerberg stated that Meta has started to see positive results and is heavily investing to prepare for the superintelligence generation.
🔸 Meta has invested $14.3 billion in Scale AI and established Superintelligence Labs led by Alexandr Wang and Nat Friedman.
🔸 Competitors like Alphabet and Microsoft are also significantly increasing their AI budgets.
🔸 The company recorded a tax expense of $15.93 billion under President Trump's One Big Beautiful Bill Act.
🔸 Investors are worried as they look back at the past; the Reality Labs segment, which specializes in developing the metaverse, has lost a total of over $50 billion since 2020.
