Meta predicts higher spending, weaker sales as it pushes into AI

Meta predicts higher spending, weaker sales as it pushes into AI Meta Platforms increased its spending estimates for the year and sees second-quarter sales below Wall Street’s expectations, once again raising questions about whether its futuristic technological bets will eventually pay off for investors. The Facebook and Instagram parent reported revenue of $US36.5 billion ($56.2 million) in the first quarter, an increase of more than 27 per cent over the same period a year ago. It was a tad better …