Almost $200bn wiped of Meta's value as markets balk at Zuckerberg's AI spending plans

Almost $200bn wiped of Meta's value as markets balk at Zuckerberg's AI spending plans Almost $200 billion was wiped off of Facebook and Instagram owner Meta’s market cap today, as the firm’s AI spending plans alarmed investors. The social media giant reported its first quarter results last night, after US markets closed. Its results for the three-month period beat expectations, but traders looked past those strong numbers and focussed on forward spending guidance. The business founded by Mark Zuckerberg forecast …