On March 16, Meta announced plans to lay off 20% or more of its workforce to offset heavy spending on artificial intelligence, leading to a 3% rise in its shares. On March 24, Meta was ordered to pay $375 million for child safety violations. On April 3, Morgan Stanley lowered its price target for Meta shares to $775 due to a softer advertising environment and forecasts of below-consensus revenues. Additionally, Meta is boosting its investment in the AI data center in West Texas to $10 billion.
