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.
EssilorLuxottica is increasingly being recognized by investors as a primary vehicle to capitalize on the success of Meta's AI-enabled wearable hardware. As the manufacturer of the Ray-Ban Meta smartglasses, the company sits at the intersection of traditional eyewear and cutting-edge technology. Recent reports…
Read the full storyOracle (ORCL) is implementing a significant round of layoffs affecting thousands of employees across its global operations. These job cuts are specifically intended to free up cash flow to fund Oracle's aggressive buildout of its AI data center infrastructure. Following the news, Oracle's stock saw a notable rise in…
Meta Platforms is significantly expanding its AI infrastructure footprint, moving beyond its $10 billion investment in Texas to launch its largest-ever project in Louisiana. This strategic expansion includes a groundbreaking move to fund the construction of 7 natural gas power plants to ensure a stable energy supply…
Shares of tech giants Meta and Alphabet faced intensified downward pressure as investor sentiment soured further this week. Meta Platforms saw its weekly stock sell-off deepen to 11%, exceeding initial reports of a 7% drop. The decline follows a landmark legal verdict regarding social media addiction, which now…
A New Mexico jury has ordered Meta Platforms Inc. to pay $375 million in damages for misleading the public and knowingly harming children's mental health. Beyond the monetary penalty, the state is now exploring legal avenues to force Meta into implementing structural and operational changes to its platforms. This…