Meta's Share Price Falls As Investors Weigh Costs Of AI Infrastructure, Augmented Reality

Meta raised its 2024 capital expenditure forecast as its infrastructure expands for AI projects. This increase comes as Meta accelerates its data center and AI computing capacities, driving rising costs. Meta’s spending includes substantial investments in Nvidia GPUs, with further cost growth expected in 2025. Meta’s share price fell in extended trading, reflecting investor concerns over user growth and rising expenses. Meta's augmented reality unit reported a loss of more than $4 billion for the quarter.