Meta’s Profits More Than Double, While Spending on A.I. Rises
Source: New York Times
Meta on Wednesday reported a 27 percent increase in revenue and profit that more than doubled in the first quarter, as the company said it planned to spend billions of dollars more than expected on infrastructure to support its artificial intelligence efforts.Revenue for the company, which owns Facebook, Instagram, WhatsApp and Messenger, was $36.5 billion in the first quarter, up from $28.6 billion a year ago…
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