Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg’s announcement related to “scaling capex and energy expenses for AI” during the company’s first-quarter financial results, allegedly led to a 17% stock plunge. Gene Munster believes the market’s reaction is an overreaction.
What Happened: During his opening statement on Wednesday, Zuckerberg revealed the company’s plans to ramp up AI investment by scaling capital expenditure and energy expenses.
He said, “We’re scaling CapEx and energy expenses for AI, we’ll continue focusing on operating the rest of our company efficiently. But realistically, even with shifting many of our existing resources to focus on AI, we’ll still grow our investment envelope meaningfully before we make much revenue from some of these new products.”
This announcement caused the stock to drop an additional 5%, bringing the total decline to 17%, according to Munster, the co-founder and managing partner of Deepwater Asset Management.
“He …
Full story available on Benzinga.com
Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg’s announcement related to “scaling capex and energy expenses for AI” during the company’s first-quarter financial results, allegedly led to a 17% stock plunge. Gene Munster believes the market’s reaction is an overreaction.
What Happened: During his opening statement on Wednesday, Zuckerberg revealed the company’s plans to ramp up AI investment by scaling capital expenditure and energy expenses.
He said, “We’re scaling CapEx and energy expenses for AI, we’ll continue focusing on operating the rest of our company efficiently. But realistically, even with shifting many of our existing resources to focus on AI, we’ll still grow our investment envelope meaningfully before we make much revenue from some of these new products.”
This announcement caused the stock to drop an additional 5%, bringing the total decline to 17%, according to Munster, the co-founder and managing partner of Deepwater Asset Management.
“He …
Full story available on Benzinga.com
Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg’s announcement related to “scaling capex and energy expenses for AI” during the company’s first-quarter financial results, allegedly led to a 17% stock plunge. Gene Munster believes the market’s reaction is an overreaction.
What Happened: During his opening statement on Wednesday, Zuckerberg revealed the company’s plans to ramp up AI investment by scaling capital expenditure and energy expenses.
He said, “We’re scaling CapEx and energy expenses for AI, we’ll continue focusing on operating the rest of our company efficiently. But realistically, even with shifting many of our existing resources to focus on AI, we’ll still grow our investment envelope meaningfully before we make much revenue from some of these new products.”
This announcement caused the stock to drop an additional 5%, bringing the total decline to 17%, according to Munster, the co-founder and managing partner of Deepwater Asset Management.
“He …Full story available on Benzinga.com Read Moreartificial intelligence, benzinga neuro, Consumer Tech, Deepwater Asset Management, Gene Munster, Mark Zuckerberg, META, News, People In Tech, Markets, Tech, META, News, Markets, Tech, Benzinga Markets
