Meta Stock Is Dragged Further Into Bear Market Territory by Heavy AI Spending

Meta Platforms shares extended their post earnings slump in early Friday trading, dragging the Facebook parent into a mini-bear market decline that echoes larger concerns over artificial intelligence spending. Meta shares have also fallen more than 20% on an intraday basis since last Wednesday, when the company posted a mixed set of third-quarter earnings. Operationally, Meta appeared to be firing on all cylinders: its much-maligned Reality Labs division saw a 270% increase in revenue, although it still booked a $4.4 billion loss.

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