Meta shares slide as plan to spend billions more on AI spooks investors

Meta shares slide as plan to spend billions more on AI spooks investorsImage source, EPAByKali HaysTechnology reporterPublished29 April 2026Updated 7 hours agoMeta took the brunt of investor concerns on Wednesday over how the biggest US tech firms are spending massive sums on artificial intelligence (AI).Shares in the company, which owns Facebook and Instagram, dropped 7% in extended trading, after saying it would spend billions more on AI projects than it had initially planned.Meta, Google-owner Alphabet, Microsoft, and Amazon all reported their quarterly earnings at the same time.

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