Mark Zuckerberg Said Meta's AI Bets "Haven't Come to Fruition Yet" as Shares Fell 5%
The tech executive admitted that things are taking longer than he originally hoped.
Overview
Meta Platforms (NASDAQ: META) is one of the big spenders in the artificial intelligence (AI) race. Its capital expenditures in 2026 will total between $125 billion and $145 billion. At the midpoint, that estimate would be 88% higher than last year's figure.
However, investors have reason to be skeptical that this will result in a meaningful payoff.
Details
CEO Mark Zuckerberg, who currently has a net worth of $231 billion, admitted that the company's AI bets "haven't come to fruition yet." He said that during an internal town hall on July 2, Reuters reported.
Source
Originally published at www.fool.com.
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